Fiat to get 35% of Chrysler

Fiat to get 35% of Chrysler

Fiat SpA, Chrysler LLC and Cerberus Capital Management have confirmed the Italian automaker will take a 35 percent share of Chrysler. There will be no cash involved in the deal.

The agreement will still need to be approved by the Treasury under the terms of the $4 billion loan extended to Chrysler which gives the U.S. government approval of all transactions valued at more than $100 million.

According to the agreement,

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Chrysler-Fiat Follow-up

Chrysler-Fiat Follow-up

The Financial Times has reported Chrysler and Fiat have signed a memorandum of understanding that would give the Italian automaker a 30-35 percent share of Chrysler in exchange for Fiat’s small-car technology including engines, transmissions and platforms. Automotive News says the agreement was signed Friday. The Times said the agreement could be announced in a matter of days.

Chrysler would not confirm the reports but,

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Rumor: Fiat to link with Chrysler

Rumor: Fiat to link with Chrysler

Last year, Allpar noted that Fiat representatives had been visiting Chrysler plants, including the one in Newark, Delaware, that produced the Durango until December. Numerous possibilities were aired, including the contract construction of Fiat’s commercial trucks in the United States, and a partnership where Fiat would supply its successful A and B class cars to Chrysler, giving it a presence in the United States for the first time in many years.

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Chrysler files for Selec-Terrain

Chrysler files for Selec-Terrain

Jim noted that Chrysler has filed for a trademark on the term SELEC-TERRAIN for a variable chassis and powertrain controller, which supports the rumor that the upcoming 2011 Grand Cherokee will include a new four wheel drive system that lets the driver choose the terrain being crossed (this appears to be separate from the rumored load-levelling, height-controlled air suspension).  The idea is presumably to change the behavior of the four wheel drive system for offroad vs snow traction.

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PT Cruiser to end 8-year run

Chrysler President Tom LaSorda has announced the end of Chrysler PT Cruiser production, as of this summer, according to Bloomberg News. The company is looking for a buyer for the tooling (which presumably would not be all the buyer would need, since the Journey is built on the same line), to keep the PT in production somewhere else. LaSorda said there had so far been no offers to buy the tooling,

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New $825 billion bill includes help for automakers

New $825 billion bill includes help for automakers

The massive American Recovery and Reinvestment Bill of 2009 has been presented to Congress for its consideration. The bill combines $275 billion in tax cuts with $550 billion worth of what Rep. Dave Obey of Wisconsin, chairman of the House Appropriations Committee, calls “thoughtful and carefully targeted investments” in technology and infrastructure.

Among the programs included is the Advanced Battery Loan Guarantee and Grants Program that provides $2 billion to support domestic manufacturing of batteries and battery systems for electric and hybrid vehicles.

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Product development reorganization

Product development reorganization

Chrysler has re-organized their product development teams to reflect new processes and synergies. Key appointments are:

Scott Kunselman, Jeep/Truck Vice President. Reporting to Scott are several chief engineers for specific programs, as well as directors of program management, body engineering, interior engineering, and chassis engineering. 

Daniel Knott, Car/Minivan/SRT Vice President. Again, reporting to Daniel are various chief engineers for individual carlines – the Avenger/Sebring and Caliber trio are noticeably linked together.

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