Chrysler, the smallest of the Detroit "Big Three" carmakers, has made an impressive return to form since it filed for bankruptcy in 2009. CEO Sergio Marchionne says it will rake in $2 billion from car and truck sales in 2011. However it still has to complete its merger with Fiat, run by Frenchman Olivier François.
Fiat has now officially split its industrial vehicle business from its automobile unit, and the newly stripped back Fiat Industrial was floated in Milan Monday. The CEO reiterated at the ceremony that there are no plans to merge Fiat and Chrysler.
A month after the US Supreme Court cleared the way for Italian automaker Fiat to acquire assets of the bankrupt US carmaker Chrysler, the European Commission has also given its approval. Regulators said the move wouldn't hurt competition in Europe.
Steven Rattner, appointed head of the US automobile task force by President Barak Obama, will quit the job as his name and his former media-focused private equity fund Quadrangle were cited in a corruption probe.
A week after it sealed a tie-up with Fiat and emerged from bankruptcy protection, US auto giant Chrysler has announced that it will restart production at seven of its North American factories at the end of the month.
The US Supreme Court has cleared the way for Italian automaker Fiat to acquire assets of the bankrupt US carmaker Chrysler. This global strategic alliance, backed by the US and Canadian governments, will create a new global automotive company.
The US Supreme Court has cleared the way for the sale of Chrysler LLC to a group led by Italian carmaker Fiat, a victory for the bankrupt automaker and the Obama administration.
Italy's Fiat has vowed to pursue its planned tie-up with ailing Detroit carmaker Chrysler a day after the US Supreme Court welcomed an investors' appeal against the deal, temporarily freezing the transaction.
The US Supreme Court has granted a request to put on hold the sale of Chrysler to a group led by Italian automaker Fiat, postponing a business rescue plan backed by the US and Canadian governments.
According to The Wall Street Journal, a group of Indiana pension funds has filed an emergency appeal with the US Supreme Court in an attempt to block the sale of Chrysler to a consortium led by Fiat.
