Fiat considering new company to combine Chrysler and GM Europe
 

<p>Filed under: <a href="http://www.autoblog.com/category/euro/" rel="tag">Euro</a>, <a href="http://www.autoblog.com/category/government-legal/" rel="tag">Government/Legal</a>, <a href="http://www.autoblog.com/category/plants-manufacturing/" rel="tag">Plants/Manufacturing</a>, <a href="http://www.autoblog.com/category/chrysler/" rel="tag">Chrysler, LLC.</a>, <a href="http://www.autoblog.com/category/gm/" rel="tag">GM</a>, <a href="http://www.autoblog.com/category/opel/" rel="tag">Opel</a>, <a href="http://www.autoblog.com/category/vauxhall/" rel="tag">Vauxhall</a>, <a href="http://www.autoblog.com/category/alfa-romeo/" rel="tag">Alfa Romeo</a>, <a href="http://www.autoblog.com/category/fiat/" rel="tag">FIAT</a></p><img vspace="4" hspace="4" border="1" src="http://www.blogcdn.com/www.autoblog.com/media/2009/05/86297402-580op2.jpg" alt="" /><br /><br />Apparently, Fiat's alliance with Chrysler is only the beginning. According to a variety of reports coming out of the UK and Germany, the Italian automaker's expansion plans aren't limited to its 20% stake in Chrysler - Fiat is also considering acquiring General Motors' European operations, including Opel, Vauxhall and even Saab.<br /><br />The result could be a new company that spins off Fiat, Lancia and Alfa Romeo, along with Chrysler and GM Europe, into one corporate entity worth around $106 billion and rivaling Volkswagen to become the world's second largest automaker behind Toyota.<br /><br />In an interview with the Financial Times, Fiat's CEO Sergio Marchionne said of the union, "From an engineering and industrial point of view, this is a marriage made in heaven" and with the full support of the automaker's board, Marchionne hopes to have the deal completed in May, with shares of the new company - tentatively dubbed Fiat/Opel - available by the end of the summer.<br /><br />Marchionne believes that the alliance would make Fiat a stronger entity in the global marketplace during the economic downturn and through merging Fiat and Opel's B- and C-segment platforms, along with absorbing Opel's larger D-platform and Fiat's sub-compact A-segment offerings, could save around 1 billion euros each year.<br /><br />Of course, Fiat and Marchionne have a long road ahead. German trade unions are opposed to the deal, citing concerns about job losses and factory closures, and according to the German magazine WirtschaftWoche, Fiat's initial offer of $1.33 billion to acquire GM's European operations was considered too small by the General.<br /><br />Marchionne is scheduled to present Fiat's plan to an assortment of German leaders later today and expect more to follow over the coming weeks. <br /><br />[Source: <a href="http://www.autonews.com/apps/pbcs.dll/article?AID=/20090503/ANA02/305039991/1193">Automotive News</a> - Sub. Req. | Image Source: Vittorio Zunino Celotto]<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2009/05/04/fiat-considering-new-company-to-combine-chrysler-gm-europe-inc/">Fiat considering new company to combine Chrysler and GM Europe</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Mon, 04 May 2009 01:44:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.autonews.com/apps/pbcs.dll/article?AID=/20090503/ANA02/305039991/1193>Read</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/05/04/fiat-considering-new-company-to-combine-chrysler-gm-europe-inc/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/1535344/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/05/04/fiat-considering-new-company-to-combine-chrysler-gm-europe-inc/#comments" title="View reader comments on this entry">Comments</a>

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