The global vehicle manufacturer Fiat Chrysler Automobiles N.V.(FCA) announced that its wholly owned subsidiary FCA Italy S.p.A and other Italian companies in the FCA Group has signed a 3-year, $7.1 billion credit facility with Italys largest banking group Intesa Sanpaolo.
- The facility will be 80% guaranteed by SACE, Italys Export Credit Agency, under the Italian Governments Liquidity Decree, as overseen by the Ministry of Economy and Finance – MEF, and the Ministry of Economic Development MISE.
- The funds under the facility will be available upon issuance of the SACE guarantee.
- The proceeds will be dedicated exclusively to FCAs activities in Italy and to support the more than 10,000 small and medium enterprises that make up the Italian automotive sector. The facility will be guaranteed by FCA N.V.
The prominent deals and expansions by FCA and Maserati are mentioned below:
March 2020: FIAT Chrysler Automobiles (FCA) announced that it will invest $400 million to transform an idled transmission plant in Kokomo, Indiana, to build the GMET4 engine. FCAs 2.0-liter Global Medium Engine inline four-cylinder turbo is currently offered on the Jeep Wrangler and Jeep Cherokee of the company.
February 2020: Italian luxury brand Maserati has announced an investment of $1.29 billion for hybrid and EV program, which includes electrification and autonomous driving technologies. Maserati announces that the GranTurismo and GranCabrio models will be manufactured in Mirafiori. The hybrid Ghibli is scheduled for release this year, while the electric GranTurismo and GranCabrio are set to commence production in 2021.
December 2019: Fiat Chrysler Automobiles and Peugeot S.A. have signed a 50/50 merger agreement of their businesses to create the 4th largest global automotive OEM by volume and 3rd largest by revenue.
November 2019: Maserati has announced an Innovation Lab, located on via Emilia Ovest in Modena, Italy. The Maserati Innovation Lab is a state-of-the-art facility where the cars of today and tomorrow are developed.
October 2019: FCA announced that it plans to build a new Battery Hub at Mirafiori complex in Turin, Italy, as part of its overall e-mobility strategy. The new assembly center will be created in a specially designed building, with the potential to expand in the future.
Fiat Chrysler Automobiles (FCA) a London based World’s leading automobile manufacturer. The company designs, manufactures, engineers, and sells vehicles and related parts, services, and production systems globally. The FCA operates around 102 manufacturing facilities and about 46 R&D centers worldwide.
The Fiat Chrysler Automobiles has dealers and distributors network in approximately 140 countries of the world. It provides job opportunities to approximately 200,000 people worldwide. The company’s automotive brands include Abarth, Fiat, Alfa Romeo, Chrysler, Dodge, Fiat Professional, Jeep, Lancia, Ram, Maserati. The FCA’s business also includes Mopar (automotive parts and service), Comau (production systems), and Teksid (iron and castings).