Fiat Chrysler Automobiles will be headquartered in London

Article by Christian A., on May 12, 2014

Fiat Chrysler Automobiles chief executive Sergio Marchionne has disclosed that the merged carmaker will be based in London, United Kingdom. This means that Fiat would essentially move away from its Turin, Italy headquarters, its home for the past 115 years. Chrysler is currently based in Auburn Hills, Michigan.

Marchionne said that Fiat Chrysler’s group executive functions, board, his office, and some of his functions will be based in London. He, however, said that this doesn't mean he will give up operational responsibilities of the United States.

“We will be multi-faceted,” he quipped. Fiat completed a $4.35-billion transaction in January taking full control of Chrysler and pave way for the establishment of the seventh-largest auto group in world. At the time, Fiat Chrysler was believed to have its primary listing in New York, with a secondary listing in Milan.

It was also believed to be registered in the Netherlands and have its tax domicile in the UK. Both politicians and unions in Italy have expressed worries on possibility of more job losses a result of the headquarters transfer, although Marchionne has been saying that the merger would not affect impact on jobs in Italy or elsewhere.

Independent auto analyst John Wolkonowicz told Reuters that Fiat Chrysler choosing London as a headquarters makes sense for several reasons like London being a financial capital and being centrally located among Fiat Chrysler’s faraway businesses.

He added that London made the company avoid the burden of choosing either Turin, or Michigan, since the UK capital is a neutral ground.

If you liked the article, share on:

Comments

Recommended

Renault Chairman and CEO Carlos Ghosn inaugurated the all-new Alpine A110 production line. This inauguration was attended by the Minister for Economy and Finance of France, Bruno Le Maire, with...
by - December 17, 2017
TOYOTA GAZOO Racing revealed that it will be participating in the 2018 Tokyo Auto Salon with the theme “Meister's Workshop.” The company will showcase models that have been part of...
by - December 16, 2017
Infiniti has commenced sales of the new 2018 Infiniti QX80 full-size luxury sports utility vehicle. Aside from the standard specs and optional features, potential customers would want to know how...
by - December 15, 2017
If there is one thing that Pagani Automobili and Fiat have in common, it is the fact that they are Italian companies that build and assemble vehicles. There is currently...
by - December 15, 2017
It’s Star Wars fever once again, and the second installation of the trilogy sequel -- “Star Wars: The Last Jedi” -- is finally hitting theaters. Avid fans of the franchise...
by - December 15, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries