Fiat Buys Chrysler Shares
In an interesting development FIAT Spa purchased 35 percentage shares in troubled Chrysler.The US number three is struggling to maintain it's existence.Now Fiat and Chrysler forming a joint venture to manufacture eco-friendly,fuel efficient cars,transmissions and engines in near future.Also this venture may offer small car as well.
Recently French government asked all automobile manufacturers to meet the committed outputs.This made all manufactures to look out for more and more effective measures to make the healthy environment. Chrysler had received a $4Million from US government,but was seeking more funds.Chrysler could get additional $3-4Million from this deal.The time making new alliances,let us wait and watch what is next.
[Via: wheelosphere]