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Showing results for tags 'VM Motori'.
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William Maley 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) 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. View full article
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William Maley 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) 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. -
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. View full article
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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.
