MILAN (AP) — Fiat shares sank more than 11 percent Wednesday as investors expressed skepticism over a new business plan to launch Fiat Chrysler Automobiles as a leading global player.

Analysts said that the ambitious plan to invest 48 billion euros ($67 billion) to boost volumes to 7 million by 2018 from 4.4 million last year failed to adequately address the financing requirements. The plan does not include a capital increase, and the company left its options open, including the possibility of a convertible bond.