Chrysler plans to launch its public stock offering (IPO) by the end of 2011

Article by Christian A., on September 16, 2010

In an interview, Fiat and Chrysler CEO Sergio Marchionne said that the Italian car manufacturer could increase its stake in the U.S. automaker from 20 percent to 35 percent by the end of next year.

Marchionne also added that Chrysler plans to launch its public stock offering by the end of 2011. “With the start of production of the Fiat 500 in December, we are fulfilling the first of our three obligations to grow our stake to 35 percent,” he said.

As you may know already, Chrysler showed the 2012 Dodge Viper to the dealers, and the car has been approved for production in just 5 minutes. Marchionne flew from Chrysler's dealer convention in Orlando, Fla., to Turin, where added that he was pleased with dealer feedback.

“In my career, I never experienced such a level of enthusiasm from a dealer body,” he said.

Furthermore, Marchionne confirmed the electric version of the Fiat 500 for 2012, and added that the car will be sold in the United States, Canada and Mexico. Mexico, United States and Canada will also get Alfa Romeo and Fiat’s sporty brand in late 2012, said Marchionne.

Regarding a possible sale of Alfa Romeo to Volkswagen, Marchionne said that the sale is not on his plans. “I did not knock the door for Alfa. Someone else did,” he said, adding that “what VW does is not our business." [via autonews - sub. required]

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