Fiat Cars: Making Small Big Again
"The boards of Chrysler LLC and Fiat SpA have given their executives the green light to proceed with the proposed alliance between the two automakers, and have agreed on a basic framework. The fate of the deal now depends on the actions of the Obama Administration’s auto task force. Fiat CEO Sergio Marchionne has already said the final form of the alliance could change based on the conditions the federal government puts on the loans Chrysler is hoping to obtain — one condition being that Fiat will start out with 20% ownership and will work its way up as they share technologies.
Automotive News learned that Chrysler plans to use six Fiat models. One is the Fiat Panda Cross, a 1.3-liter-diesel powered off-road vehicle that gets nearly 40 mpg and would likely be sold as a Jeep in 2011 with a 1.2 or 1.4 liter gasoline engine. "