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Fiat buys stake in VM Motori

by David Zatz on

Fiat Powertrain has purchased half of VM Motori SpA, which supplies engines for some European Chrysler vehicles, from Penske.

General Motors has owned the other half of VM Motori since 2007. GM and Fiat Powertrain released a statement saying that they would jointly manage VM Motori and continue existing contracts and relationships.

VM Motori has a reputable, advanced line of diesels, in sizes that appear to complement the existing Fiat diesel lines.

GM and Fiat have worked together in the past, and both currently sell cars in Europe from a shared platform, according to globalauto.org (the SCSS B cars, including Fiat Punto, Linea, and Doblo, Alfa Mito, Opel-Vauxhall Corsa, Citroen Nemo, Peugeot Bipper, and others).

(Thanks, forum member patromigh).

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