Fiat Group is now 100% owner of VM Motori SpA

Article by Anita Panait, on October 31, 2013

Fiat Group now owns all of VM Motori S.p.A., after acquiring General Motors’ holdings in the diesel engine maker for EUR34.1 million ($47.1 million).  A Chrysler spokesman said the acquisition of the remaining stake from GM was completed on October 28. Fiat acquired half of VM Motori in 2010. GM exercised a put option allowed under its agreement with Fiat to complete the sale.

Established in 1947, VM Motori builds and supplies diesel engines for various vehicle models like Chrysler’s Ram 1500 and Jeep Grand Cherokee in the U.S. Chrysler started selling the diesel Grand Cherokee in the US this fall and will roll out the diesel Ram 1500 later. According to Chrysler executives, they are planning to gauge consumer interest in diesel Ram 1500 and diesel Grand Cherokee to decide whether to fit diesel engines in other vehicles in its lineup.

VM Motori also builds and supplies advanced diesel engines for marine, industrial and other uses. VM Motori' operates a 85,000-square meter site in Cento, Italy that employs around 1,150 people and builds around 90,000 engines annually.

Topics: fiat

If you liked the article, share on:

Comments

Recommended

It is quite common to revive classic cars if you have a lot of extra money. Models like the Jaguar XKSS and Aston Martin’s DB4 GT have been upgraded to...
by - August 21, 2017
Famous designer of certain Ferrari vehicles like the Enzo Ferrari and the P4/5, Ken Okuyama has revealed another one of his designs at the 2017 Pebble Beach Concours over the...
by - August 21, 2017
The current generation of the BMW M3 (F80) sedan isn’t just sporty and luxurious in terms of looks, but also in terms of performance. Because of its athletic appeal, the...
by - August 21, 2017
A lot of us know Singer Vehicle Design and their signature work of reimagining Porsche 911s, and making them look like hot rods from the 70s. They are not alone...
by - August 20, 2017
August 17, 2017 is a sad day for the Dodge Viper, its fans, enthusiasts and its admirers. It is the day when the last Dodge Viper rolled off the assembly...
by - August 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