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

Tesla Motors may soon revive its plans to offer battery swapping services using a new approach. This comes as the carmaker was discovered to have filed a patent months ago...
by - September 21, 2017
There is indeed very good news for fans and enthusiasts of Mercedes-Benz’s AMG GT range: a Black Series is coming to town. This was according to a report by Australian...
by - September 21, 2017
We all know of the standard M4 and the more powerful M4 GTS model, but in between those two models is the newest M4 CS. The CS trim comes with...
by - September 21, 2017
Hyundai has unveiled to the global public its latest sedan that elegantly combines luxury and performance in one innovative package under its Genesis luxury brand – the new Genesis G70....
by - September 21, 2017
A lot of people have been questioning BMW’s design direction lately, albeit the beautiful Z4 concept and the alluring 8 Series concept are excluded from this narrative. This began after...
by - September 20, 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