Daylife/Getty Images
|
Italian carmaker Fiat and US giant Chrysler have agreed to create a global strategic alliance. Under the terms of the deal, Fiat will get a 35% stake in Chrysler. In return, the US firm will get access to Fiat’s fuel-efficient vehicle technologies.
The United Auto Workers union (UAW) welcomed the deal, saying it could help preserve US manufacturing jobs.
The statement points out, however, that the agreement does not commit Fiat to funding Chrysler in future.
Chrysler has received an emergency loan from the US government worth $4bn, while Fiat has said it needed a partner because it was too small to continue on its own. Fiat chief executive Sergio Marchionne said the deal represented “a key milestone in the rapidly changing landscape of the automotive sector”.
Trading in Fiat shares had earlier been suspended amid speculation of a possible partnership with the US firm. After the announcement was made and trading resumed, Fiat shares rose 3.5%.
Now, bring over the new Fiat 500 with the 1.3 liter turbodiesel. Yes!
I’m still waiting for Dodge to come clean on the
1998-2002 Cummins Turbo Diesel.
I owe $12,000 on a truck that sits in the driveway with a junk fuel injection system.
The truck is amazing when it gets a new Bosch VP-44 injector pump,23 MPG and enough torque to pull a freight train but it usually lasts about
3 months and costs two thousand dollars to fix.
So why is Chrysler in trouble again?
Google:Bosch VP-44 and read 33,000 plus pages
of excuses.
After all the gimmicks to get Me in the door to buy a DCTD and being hit over the head with shady financing and the non-stop runaround with the warranty work,Chrysler Corp. will never,ever get another dime from Me.
I’ve almost saved enough for a used 1996 DCTD
engine with 160,000 miles,like new.
Right now a POS 1970’s FIAT sounds pretty good
and I would buy one,just not from any Chrysler
dealership,it would not matter how good the new FIATs are.
Chrysler and Nortel might get together.