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.
