Italian luxury carmaker Ferrari has signed EUR50m agreement with Fiat to develop and build new engines for its top models including Maserati, Alfa Romeo and Lancia.
As per the agreement, Ferrari will produce two new engines including bi-turbo V6 engine which will generate 450hp, as well as, a V8 powertrain, which can generate an output of nearly 500hp.
According to ansa.it, the production of the new engines is expected to begin in 2014.
Initially, the new engines will power the production version of the Maserati Kubang SUV concept and then follows subsequently.
Fiat's move tends to reduce the production of engines by its family manufacturers, thus cutting the production costs and the new engines are expected to deliver enhanced fuel economy and reduce emission, while offering high performance.
Abarth 695 Maserati Edition bows at Mille Miglia
The Fiat 500 in its various guises positively romps on its popularity, making special-edition hay with terrific frequency. This latest outing in the form of the Abarth 695 Maserati Edition follows a familiar trail, coming three years after the Abarth 695 Tributo Ferrari that debuted at the 2009 Frankfurt Motor Show.
That hatch had a tuned 1.4-liter turbo four putting out more than 180 horsepower, a variable exhaust system and paddle-shifting automated manual under its Ferrari 430 Scuderia-mimicking paint scheme. But aside from the paint, this one gets much the same treatment: 180-hp output, Abarth Competizione gearbox and dual mode exhaust.
It goes the GranTurismo route instead of hard-core sports car, though, using the convertible Abarth as a base and adding Pontevecchio Bordeaux paint with a gray top, sand-beige leather and black interior, Jaeger instrumentation, and 17-inch Maserati-style Neptune wheels and hexagonal tailpipes. Still, it gets even bigger Brembo brakes than the Ferrari version.