Will create the world’s fourth-largest auto company worth $50 billion.
New company would be worth US$50 billion, with revenue of US$189 billion.
Would create the world’s fourth-largest automaker with a combined market value of around US$50 billion.
Not specifying whether the goal is a full merger or a looser alliance.
Pay raises and a huge signing bonus, union’s top-notch health care changed little.
But it doesn’t mean there will be a work stoppage. Contracts expire Sept. 14.
FCA cited “political conditions in France” for the withdrawal.
Merged company would make some 8.7 million vehicles a year, leapfrogging GM and trailing only Volkswagen and Toyota.
Michigan’s economic development board approved a US$223 million incentive package, the automaker will create 6,400 jobs.
Investment in Canada’s vehicle assembly sector averaged just $1.2 billion a year between 2010 and 2017, down from $2.3 billion a year in the previous decade.
The investment would roughly double FCA’s hourly workforce in the city.
Automaker will also need to pay about $280 million to compensate vehicle owners.
The all-electric 500 will be built in Mirafiori, in Turin, while the Alfa Romeo SUV will be built in Pomigliano, near Naples, along with the Panda.
Legacy is a corporate culture where “mediocrity is never, ever worth the trip.”
Marchionne steps down early because of severe health problems. Jeep executive Mike Manley is taking over.