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 […]
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FCA has to boost investments in Italy to seek state-backed loan, says Economy Minister
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
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) 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
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
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 […]
Fiat Chrysler to reopen U.S. plants on May 18
Fiat Chrysler Automobiles (FCA) has seen first-quarter loss of $1.8 billion and warned of a “significant” loss this quarter, even as it plans to reopen its most profitable North American truck plants on May 18 as coronavirus lockdowns ease. The Italian-American company, which has struck a $50 billion merger deal with France’s PSA Group to […]
Fiat Chrysler’s dealers, mechanic workshops to reopen in Italy on Monday
Fiat Chrysler Automobiles (FCA) stated on Thursday its Italian network of approved dealers and mechanic workshops would restart on May 4, when the country is set to start removing a national lockdown put in place to control the spread of the coronavirus. A package of health and safety measures for employees and customers will be […]
General Motors, Ford and Fiat target May 18 restart date in the US
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 Chrysler restarts van production in Atessa, and elsewhere in Italy
Fiat Chrysler Automobiles (FCA) restarted van production on Monday at its Atessa plant located in central Italy, a week before the nation prepares to start lifting a national lockdown put in place to reduce the spread of the coronavirus. Italy has said it would permit factories and building sites to resume from May 4 as […]
FCA to restart preparatory operations at Melfi plant in Italy from Monday
An average of 750 employees of Fiat Chrysler Melfi assembly plant in southern Italy will return to work next week to prepare the center for the final development of the group’s new hybrid cars, a union representative has said. Marco Lomio, of UILM union, stated the automaker had told unions that workers would have to […]
Fiat Chrysler to resume van production at Atessa plant in Italy
Fiat Chrysler Automobiles (FCA) to restart van production at its Atessa joint venture plant in central Italy at 70% of the normal rate, a union representative informed Reuters. FCA and unions stated on Tuesday that the automaker prepared to restart the plant, which is a venture with France’s PSA Group, on April 27, a week […]
Fiat reaches deal with unions on measures for production resume in Italy
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 […]
Fiat Chrysler in talks with unions to resume production in Italy
Fiat Chrysler Automobiles (FCA) and unions are talking about the plans for beefed-up health measures at Italian plants to make the way for most profitable production to resume as soon as the government eases a nationwide lockdown, unions stated on Wednesday. An extension of a national lockdown set to expire on April 13 cannot be […]
Fiat Chrysler, Peugeot seek to raise cash before merger
With their sales hit by the coronavirus outbreak, automakers Fiat Chrysler and Peugeot’s owner PSA have delayed their shareholder meetings and are looking at ways to increase cash reserves ahead of their planned merger. The two automakers have turned to their banks to secure much required cash, and Fiat Chrysler (FCA) is looking at debt […]
