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Fiat to increase stake in Chrysler Group LLC
8th May, 2011
Who owns Chrysler?
25th January, 2011
13th April, 2011
Chrysler Group LLC yesterday (12th April, 2011) announced that
Fiat's ownership in the Company has increased from 25 per cent to 30 per cent, effective 12th April 2011. The
increase is the result of the Company’s achievement of the second of three performance-related 'milestones'
outlined in a recent amendment to its 10th June 2009 Operating Agreement, which broadens the Chrysler Group-Fiat
partnership and enhances Chrysler Group’s international market position.
The second milestone required Chrysler Group to achieve cumulative revenues of more than $1.5 billion
attributable to Company sales made outside of Canada, Mexico and the United States (the “NAFTA Countries”)
after 10th June, 2009, and to enter into the following with Fiat or its affiliates:
- an agreement covering at least 90 per cent of Fiat dealers in Brazil for the distribution of one or more
Company products (including Chrysler Group products rebadged and sold under the brand names of Fiat Group
Automobiles);
- an agreement covering at least 90 per cent of Fiat dealers in the European Union (EU) for the distribution
of one or more Company products (including Chrysler Group products rebadged and sold under the brand names of
Fiat Group Automobiles), and providing for the pooling of Chrysler Group and Fiat vehicle fleets in the EU for
CO2 emissions ratings; and,
- an agreement providing for compensation to the Company for the use of its technology by Fiat or its
affiliates outside of the NAFTA countries.
The ownership interests of Chrysler Group’s members are now:
UAW VEBA |
59.2 per cent |
Fiat |
30.0 per cent |
U.S. Treasury |
8.6 per cent |
Canadian Governments |
2.2 per cent |
Chrysler Group reached the first performance event in January 2011 with the United States production of
the fuel efficient Fully Integrated Robotised Engine (FIRE) in Dundee, Michigan, thereby increasing Fiat’s
ownership from 20 to 25 per cent. Fiat has the opportunity to further increase its ownership in Chrysler
Group to 35 per cent through an additional performance-related milestone relating to commercial production
in the United States of a fuel efficient vehicle based on Fiat platform technology.
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