Auto threesome? Fiat CEO confirms pursuing partnership with Opel

[Haltech]

Filed under: Euro, Government/Legal, Plants/Manufacturing, GM, Opel, Vauxhall, FIAT, UAW/Unions



As if Fiat doesn't have enough on its plate while working on an alliance with Chrysler during its bankruptcy proceedings, the Italian automaker's CEO has finally confirmed that it's pursuing an alliance with General Motors' German arm Opel.

In the Fiat-owned newspaper La Stampa, CEO Sergio Marchionne said, "Now we have to concentrate on Opel. They are our perfect partner."

Coupled with the Chrysler alliance, if the deal with Opel would go through, that would make Fiat the world's number-two automaker behind Toyota. However, both Italian and German labor leaders are opposed to the venture, fearing sizable cutbacks to both Opel and Fiat's workforce.

In GM's recently revised restructuring plan, the General's generals laid out a plan to spin-off the Opel and Vauxhall divisions into a separate unit, which would require another investor for GM to secure financial aid from the German government. Currently, GM claims to have six investors interested in Opel, and along with Fiat, Canada's Magna is also in the offing.

[Source: Autoweek | Image Source: Vittorio Zunino Celotto/Getty]Auto threesome? Fiat CEO confirms pursuing partnership with Opel originally appeared on Autoblog on Fri, 01 May 2009 13:03:00 EST. Please see our terms for use of feeds.



Read | Permalink | Email this | Comments





More...