Fiat acquired Chrysler to form FCA

Posted on 06 February 2014 by Tony Santos

FCA

Italian automaker Fiat SpA has just completed the acquisition of Chrysler to form a new global car company which will be called Fiat Chrysler Automobiles NV or in iconic-ish just FCA. This is the second time in two decades Chrysler has been acquired by a European car maker.

FCA will be incorporated in the Netherlands and registered in the UK for tax purposes and will run by management in Turin for Fiat and Michigan for Chrysler.

“A new chapter of our story begins with the creation of Fiat Chrysler Automobiles,” said John Elkann, chairman of Fiat, in a statement released Wednesday. “A journey that started over a decade ago, as Fiat sought to ensure its place in an increasingly complex marketplace, has brought together two organizations, each with a great history in the automotive industry and different but complementary geographic strengths.”

The incorporation will also debut a new logo with stylized F,C and A to replace Fiat and Chrysler’s moniker. According to Chrysler CEO Sergio Marchionne, along with the plan approved by Fiat’s board, they will try to organize running both separate entity in a streamline approach and aimed to be the world’s seventh largest automaker.

“Our future is bright if all of us in this combined group continue to embrace common values including meritocracy, accountability and the willingness to embrace competition,” Marchionne told workers. “We need to focus on building a common future and to remove any vestiges of thinking that involves ‘us’ and ‘them.’ I ask you to continue bringing your skills and determination to make this next chapter the most rewarding one ever.”

Categorized | Car News

Related Posts

Comments are closed.