Industry News: Fiat To Buy GM's Share Of VM Motori

[William Maley]

William Maley

Staff Writer - CheersandGears.com

September 23, 2013

Reuters is reporting that Fiat will be buying General Motor's share of Italian engine manufacturer VM Motori. VM Motori currently supplies engines for the Jeep Grand Cherokee and Ram 1500 EcoDiesel.

"GM's notification to exercise its put option to sell to Fiat its 50 percent interest in VM Motori SpA is in line with the contracts Fiat entered into when it acquired a 50 percent stake in VM in 2010," said Fiat in a statement.

Fiat expects to have full control of VM Motori by the end of this year. No word on what the future holds for GM products with engines from VM Motori.

Source: Reuters

William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.

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[Drew Dowdell]

That's fine. GM can do their own Diesels... .though I'm surprised FIAT would need VM.

[riviera74]

I wonder how much $$$$ GM will get for selling VM Motori to FIAT.

[Z-06]

Some politics going on between GM and Fiat. Very interesting developments over the past two weeks.