Italy confident that government, Fiat can complete state-backed loan

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Italy’s Economy Minister Roberto Gualtieri stated on Friday he was confident the government and Fiat Chrysler Automobiles (FCA) would be able to finish a deal over a state-backed loan for the automaker. Fiat Chrysler’s Italian division is collaborating with the government and lender Intesa Sanpaolo to grab 80% state guarantees on a 6.3 billion euro […]

FCA has to boost investments in Italy to seek state-backed loan, says Economy Minister

Fiat Chrysler Automobiles FCA

Italy’s Economy Minister Roberto Gualtieri on Monday stated that Fiat Chrysler Automobiles (FCA) has to strengthen investments in the country and avoid delocalizing its plants outside the national borders to apply for a state backed loan. “We have asked for additional commitments to the already stringent commitments (set for such loans): all the planned investments […]

Fiat Chrysler entitled to seek state-backed loan, says Italian PM

Fiat Chrysler Automobiles (FCA)

Italian Prime Minister Giuseppe Conte stated on Saturday that Fiat Chrysler Automobiles (FCA) was entitled to apply for the country’s state-backed loans as the automaker employs thousands of workers in the country, even though its legal base is located outside the country. The Italian-American group confirmed on Saturday its Italian unit was working with the […]

Fiat Chrysler in talks over 6.3 billion euro state-guaranteed loan

Fiat Chrysler Automobiles FCA

Fiat Chrysler Automobiles (FCA) is in talks with Italian lender Intesa Sanpaolo over a 6.3 billion euro ($6.8 billion) state-guaranteed loan to help the automaker weather the coronavirus crisis, a source knowledgeable with the matter stated on Friday. The loan, which is part of emergency liquidity measures the Italian government is making available to the […]

EU regulators to decide on $50 billion Fiat and Peugeot deal by June 17

FCA Peugeot

EU antitrust regulators will make a decision by June 17 whether to clear Fiat Chrysler and Peugeot maker PSA’s $50 billion merger, according to a European Commission filing on Monday. The companies declared the deal to form the world’s fourth biggest automaker in December, putting under one roof the Italian company’s brands including Fiat, Jeep, […]

UAW gives its approval to Fiat Chrysler to reopen North American plants

United Automobile Workers (UAW)

The United Auto Workers, the union that represents U.S. hourly workers at Detroit automakers, has given its tacit approval on Tuesday for the automakers to resume production amid the coronavirus pandemic, after Fiat Chrysler stated it expected to resume its North American plants on May 18. The United Auto Workers union has been negotiating with […]

General Motors, Ford and Fiat target May 18 restart date in the US

Detroit Three automakers, General Motors, Ford Motor, Fiat Chrysler Automobiles

General Motors, Ford Motor and Fiat Chrysler Automobiles are targeting May 18 to restart some production at their U.S. plants after shutting down plants in March because of the spread of the coronavirus, the Wall Street Journal reported. Executives from the companies in recent times tentatively settled on the timeline after talks with the leaders […]

Fiat reaches deal with unions on measures for production resume in Italy

Fiat Chrysler Automobiles FCA

Fiat Chrysler Automobiles (FCA) reached a deal with unions on Thursday over measures to adopt in its Italian plants once the government eases restrictions on business activity enforced in order to stop the spread of the coronavirus. Italy, the epicentre of the virus emergency in Europe, enforced a nationwide lockdown on March 9. After two […]