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Saturday, January 2, 2010
Chrysler, Fiat merger:
US carmaker Chrysler and Italian carmaker Fiat merged to create world's sixth largest global auto giant. The non-cash accord called for Fiat to take a 35% stake in the No 3 American carmaker Chrysler in exchange for Fiat's platforms for its fuel-efficient, small and medium-sized compact cars, which will fill a gap in Chrysler's range of models. Fiat in turn would gain access to American auto plants and service centers as well as the reintroduction of several of their models back into America. Fiat like Chrysler was also in a terrible state after a failed merger with General Motors, but is now on its road to recovery.
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