Amazing Inventions: Fiat Produces Engine That Increases Ownership In Chrysler
January 10th, 2011 2:04 PM
Share
We’re committed to finding, researching, and recommending the best products. We earn commissions from purchases you make using links in our articles. Learn more here
Want to know how to get a good chunk of the Detroit 3, no money down? Easy: Today, Fiat increased its ownership of Chrysler from 20 percent to 25 percent. What did they pay for it? Niente. Fiat received the extra shares “upon the Company’s achievement of the first of three performance-related milestones,” as a Chrysler Group LLC press release proclaims. And what is that milestone? They started making an engine.
- “The first milestone relates to revenue and sales growth outside of the NAFTA region.” That will get them 5 percent.
- “The second milestone relates to commercial production in the United States of a 40-mile-per-gallon vehicle based on Fiat platform technology.” That will get them another 5 percent.
{
"id": "9123055",
"alt": "",
"title": "",
"video_link": "https://www.youtube.com/embed/6OEFxc3zTls",
"youtube_video_id": "6OEFxc3zTls"
}
{
"width": 634,
"height": 357,
"showRelated": true
}
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
More by Bertel Schmitt
Comments
Join the conversation
Here is a novel idea that would help everyone not only the car makers. How about we stop getting into free trade agreements and start going for balanced trade agreements. If China wants to sell us a million cars they have to buy a million from us. The same should go for everything else too. If they don't well let them keep there cars and we keep ours. If we started to demand balanced trade two things would happen. There would be one hell of a lot more jobs here and we could wipe out trade deficits. Just think if we can't get products made by slave labor and sweat shops overseas we might have to make it here. The foreign countries couldn't cry foul because we are not putting on tariffs just asking for a fair shake.
Sure. That'll work.
Let's start with bananas.
Then move to something bigger, like oil.
And if Boeing wants to sell planes abroad, we need to import Yaks and Ilyushins first.