Fiat Chrysler to build second Jeep assembly plant in Detroit
Fiat Chrysler Automobiles (FCA) plans to construct Jeep Grand Cherokee SUVs in a mothballed Detroit plant in 2020, four people knowledgeable about the plans informed Reuters on Thursday. News of the Fiat Chrysler’s new plant leaked on the same day General Motors CEO Mary Barra was finishing a two-day visit in Washington with lawmakers critical over
Several European nations to impose diesel recalls: report
Several European nations have either ordered vehicle recalls by automakers over diesel emissions cheating or prepare to do so, German weekly Bild am Sonntag reported without mentioning sources. The paper stated France had identified issues over Nissan’s Juke model along with the Renault Captur and Kadjar models. It also stated the Netherlands has ordered the
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Fiat Chrysler to invest 5 billion euros in to fill plants and keep jobs in Italy
Fiat Chrysler plans to invest over 5 billion euros ($5.7 billion) on new models and engines in Italy for the next three years to try to make better use of factories and increase jobs and margins. The plans are meant to deliver on a strategy outlined by FCA’s late CEO Sergio Marchionne in June, in
Judge orders to hold new talks in Fiat Chrysler diesel emissions case
A federal judge in San Francisco has ordered the U.S. Justice Department and Fiat Chrysler Automobiles NV to start new talks with a court-appointed settlement master to attempt to settle the government’s civil suit concerning the Italian-American automaker’s diesel vehicle emissions. The Justice Department is looking for “substantial” civil fines from the automaker in a
Fiat Chrysler reconsiders Mexico for making more Ram trucks
With a strategy of loading up its renovated Ram 1500 full-size trucks with new functions – ranging from 12-inch touch screens on the dashboard to big battery packs and electric motors to help adjust speed and gears and conserve fuel – the automaker is investing on a sustained surge in demand. Thus Chief Executive Mike
Fiat Chrysler reconsiders Mexico for making more Ram trucks
With a plan to load up its renovated Ram 1500 full-size trucks with new features – varying from 12-inch touch screens on the dashboard to large battery packs and electric motors to support adjusting speed and gears and conserve fuel – the automaker is banking on a sustained rise in demand. So Chief Executive Mike
KKR’s Calsonic purchases parts firm Magneti Marelli for $7.1 billion
Japan’s Calsonic Kansei, owned by U.S. private equity firm KKR, has is set to purchase Fiat Chrysler’s Magneti Marelli for 6.2 billion euros ($7.1 billion) to establish the seventh-largest independent car parts supplier. The first big deal by FCA’s newly-appointed CEO Mike Manley, who took over in July following the sudden death of long-time CEO
Fiat Chrysler plans to produce plug-in hybrid Jeep Renegade
Fiat Chrysler Automobiles (FCA) stated on Monday it had kicked-off plans for the production of a plug-in hybrid version of the Jeep Renegade as the automaker pushes ahead with its electrification drive to satisfy tougher emissions rules. The world’s seventh-largest automaker stated in June it would invest 9 billion euros ($10.3 billion) in electric and
Regulators received ‘wake-up call’ over fuel rules, says Fiat Chrysler
Fiat Chrysler Automobiles NV stated that U.S. regulators have got a “wake-up call” from automakers regarding the hurdles they face in trying to meet increasing Obama-era fuel-efficiency standards. In day two of a three-day public hearing regarding the Trump administration’s proposal to freeze fuel-efficiency standards at 2020 levels through 2026, automakers prompted regulators to continue
Renault, Volkswagen and Fiat Chrysler sales rise before stricter EU emissions tests
Renault, Volkswagen and Fiat Chrysler led a 29.8 percent European car sales increase last month, the major regional industry body stated, as automakers used discounts to clear inventory prior tougher emissions tests. Registrations throughout Europe rose to 1.17 million cars, well over usual levels for the slow month of August and the 902,870 gained in
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Hedge fund Tiger Global raises stake in Fiat Chrysler to $1 billion
U.S. hedge fund Tiger Global Management has raised their stake in Fiat Chrysler Automobiles (FCA) to 873.3 million euros ($1 billion), a new filing with the Dutch regulator revealed. Tiger, which operates around $22 billion in assets in under management, boosted its stake to 60 million shares on September 3, as per the filing. Billionaire
Fiat Chrysler new CEO to announce plans for organization by end month
Fiat Chrysler new CEO Mike Manley is going to announce his organizational preparations for the automaker by the end of September, the group’s chairman stated at a shareholder meeting called to vote on the appointment of the new manager following former CEO Sergio Marchionne’s sudden death. “When we learned Sergio Marchionne could not return to
Fiat Chrysler pressing on with parts maker Magneti Marelli spin-off
Fiat Chrysler is pressing ahead with the spin- off of its parts maker Magneti Marelli, a spokesman verified in Wednesday after reports investment firm KKR was in discussion to acquire the unit. “FCA is pursuing a plan to separate the Magneti Marelli business … it will evaluate bona fide proposals for alternative transactions that may
Former Fiat Chrysler CEO Sergio Marchionne dies
Former Fiat Chrysler chief executive Sergio Marchionne has died following a 14-year career where he helped to rescue the automaker, the news arriving on Wednesday moments before the group reported a heavy drop in profit. The declaration of the death of Marchionne, one of the auto industry’s most tenacious and acclaimed CEOs, drew tributes from
Marchionne being treated in Zurich’s University Hospital
Fiat Chrysler CEO Sergio Marchionne was being treated in a Zurich hospital on Sunday with a serious illness as he was suffering complications after shoulder surgery. A Fiat Chrysler spokesman verified Marchionne was in Zurich’s University Hospital, which is among the country’s largest medical centers. The spokesman did not offer details about the CEO’s condition