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
- Published in Chrysler, Fiat, Renault, Volkswagen
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
CEO Marchionne exits Fiat Chrysler, Ferrari amid health crisis
Fiat Chrysler CEO Sergio Marchionne is going to be replaced permanently at the helm of the global automaker as well as Ferrari after suffering serious complications from surgery, sources stated on Saturday. The boards of automaker FCA, Ferrari and CNH Industrial, which Marchionne also chairs, were meeting on Saturday and named his successors later the
Fiat criticizes EU competition regulators for acting as supranational tax body
Fiat Chrysler Automobiles on Thursday alleged EU competition regulators of over-reaching their powers and acting as a supranational tax authority for the bloc when they ruled in opposition to its tax deal with Luxembourg three years ago. The Italian automaker was hit with a tax bill of up to 30 million euros ($35 million) in
- Published in Fiat
Fiat Chrysler shares drop following the recent diesel emissions allegations
Fiat Chrysler Automobiles (FCA) shares dropped over 3 percent in New York trading on Friday in middle of investor concern about allegations mounted in court filings concerning alleged excess diesel emissions. The U.S. Justice Department submitted a civil lawsuit against Fiat Chrysler and its VM Motori SpA unit in May last year, alleging the automaker
Fiat chairman is working with Marchionne to find new CEO in 2019
Fiat Chrysler is working with its Chief Executive Sergio Marchionne to find his successor next year, the car group’s chairman John Elkann stated on Friday. Marchionne has said before he will step down as CEO in early next year. He has frequently said his successor will be selected from within the company.
Fiat Chrysler plans to proceed with Magneti Marelli
Fiat Chrysler stated on Thursday its board had tasked management to proceed with spinning off Magneti Marelli and issuing shares in a new holding for 99-year old parts business to FCA investors. The spin-off is part of a strategy by FCA Chief Executive Sergio Marchionne to “purify” the Italian-American automaker’s portfolio and to unlock value
Fiat Chrysler to recall 228,508 trucks to work on shifter issue
Fiat Chrysler Automobiles NV’s U.S. unit stated on Friday it would recall about 228,508 trucks in the United States, Canada, Mexico and some other countries to prevent drivers from accidentally shifting their vehicles from “park”. The brake transmission shift interlock (BTSI) might overheat on some vehicles, FCA US LLC stated, including that it would cause
Fiat Chrysler, Waymo broadens deal for self-driving ride-hailing service
Fiat Chrysler Automobiles NV (FCA) will provide Waymo with thousands of Pacifica hybrid minivans as Alphabet Inc’s self-driving unit starts presenting its first public ride-hailing service later this year, the companies stated on Tuesday. Depending on its scope and scale, the agreement could put pressure on other similar companies like Uber Technologies Inc and General