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Fiat ups stake in Chrysler to 25%

Italy's Fiat has lifted its stake in Chrysler to 25% after winning approval to build a new engine in Dundee, Michigan, one of three conditions agreed with the US government when it invested in the troubled US carmaker.

January 10, 2011 / 09:14 PM IST

Italy's Fiat has lifted its stake in Chrysler to 25% after winning approval to build a new engine in Dundee, Michigan, one of three conditions agreed with the US government when it invested in the troubled US carmaker.


The announcement on Monday increases the likelihood that Fiat will own a majority of Chrysler by the end of the year, as indicated by Fiat's chief executive Sergio Marchionne last week.

Fiat had to fulfil a set of criteria to increase its holdings in the US carmaker and Fiat now has the option to increase its stake to 35%.

first published: Jan 10, 2011 09:12 pm

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