Fiat, Chrysler Consummate Marriage Under New Name
Having completed its planned acquisition of Chrysler, Fiat has announced that the Auburn Hills, Mich. automaker will now be called “Fiat Chrysler Automobiles (FCA).”
Today, Fiat’s board of directors approved a corporate reorganization that would form a new FCA as a new company that will be able to compete “in both scale and capital market appeal” with major global automotive groups. FCA will be controlled by parent company Fiat Chrysler Automobiles N.V., which will be incorporated in Holland.
“Five years ago we began to cultivate a vision that went beyond industrial cooperation to include full cultural integration at all levels. We have worked tenaciously and single-mindedly to transform differences into strengths and break down barriers of nationalistic or cultural resistance,” Fiat and Chrysler CEO Sergio Marchionne said today.
“Today we can say that we have succeeded in creating solid foundations for a global automaker with a mix of experience and know-how on a level with the best of our competitors. An international governance structure and listings will complete this vision and improve the Group’s access to global markets bringing obvious financial benefits.”
The plan is still subject to final approval by the Fiat Board and the company’s shareholders. Part of the plan includes the company being listed both in Milan and on the New York Stock Exchange.
Chrysler and Fiat have also adopted what they call a new logo shown here.
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Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> and <A title="Luke on Google+" href="http://plus.google.com/112531385961538774338?rel=author">Google+</A>.
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