Staff Writer - CheersandGears.com
October 29, 2013
Fiat has become the sole owner of VM Motori after paying General Motors 34.1 million Euros ($47.1 million) to buy out its stake in the company. A Chrysler spokesman tells Automotive News that the transaction was completed yesterday. VM Motori currently supplies diesel engines for the Jeep Grand Cherokee and Ram 1500.
VM Motori manufactures approximately 90,000 engines per year for automotive, marine, industrial and other uses. The company employs around 1,150 people.
Chrysler executives have said they'll be watching how consumers react to the new diesels and make decision on whether to expand diesels to other models.
Source: Automotive News (Subscription Required)