Marchionne spread thin
By Ken Thomas |
December 9, 2009, Wednesday
|
Print Edition
Print Edition
SERGIO Marchionne, who has crisscrossed the Atlantic since last summer running both Italian auto maker Fiat and American Chrysler, said on Monday he expects to divide his leadership role at the companies within two years.
Marchionne, who was installed by the United States government as CEO of Chrysler Group LLC after the auto maker's emergence from bankruptcy in June, said he was working "24-7" to manage the transfer of technologies from Fiat Group SpA to Chrysler, a crucial piece of the US company's revival.
"There's got to be this blood transfusion," Marchionne told the Peterson Institute for International Economics.
Marchionne confirmed that the auto maker plans to build a 1.4-liter engine for the Fiat 500 minicar at Chrysler's engine plant in Dundee, Michigan, and the 500, to be built in Mexico, will roll off the assembly line late next year. Turin-based Fiat took a 20 percent stake in Chrysler this year as part of its exit from bankruptcy protection and can increase its holdings to 35 percent.
Marchionne said Chrysler broke even in September and October and was dedicated to a five-year plan to overhaul the auto maker's vehicle lineup and to double sales.
Marchionne, who was installed by the United States government as CEO of Chrysler Group LLC after the auto maker's emergence from bankruptcy in June, said he was working "24-7" to manage the transfer of technologies from Fiat Group SpA to Chrysler, a crucial piece of the US company's revival.
"There's got to be this blood transfusion," Marchionne told the Peterson Institute for International Economics.
Marchionne confirmed that the auto maker plans to build a 1.4-liter engine for the Fiat 500 minicar at Chrysler's engine plant in Dundee, Michigan, and the 500, to be built in Mexico, will roll off the assembly line late next year. Turin-based Fiat took a 20 percent stake in Chrysler this year as part of its exit from bankruptcy protection and can increase its holdings to 35 percent.
Marchionne said Chrysler broke even in September and October and was dedicated to a five-year plan to overhaul the auto maker's vehicle lineup and to double sales.
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