The deal creates the world’s fourth-largest automaker, a goliath with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies.
Holcomb announces $400M Fiat-Chrysler investment, teacher pay plan in speech
According to Gov. Eric Holcomb’s prepared remarks, Fiat-Chrysler will invest $400 million in its Kokomo facility and hinted that an announcement will be made on Friday from Toyota in Princeton.Read More
The ratification means the United Auto Workers union has settled with all three Detroit automakers. Fiat Chrysler has a workforce of 8,156 in Indiana at four plants in Kokomo and one plant in Tipton.
The United Auto Workers and Fiat Chrysler reached a tentative agreement Saturday on a new four-year contract that includes a total of $9 billion in investments but still needs final approval from workers.
General Motors is alleging that its crosstown rival got an unfair business advantage by bribing officials of the United Auto Workers union.
With General Motors and Ford out of the way, the United Auto Workers union wants a similar deal from Fiat Chrysler, which has a workforce of 8,156 in Indiana at four plants in Kokomo and one plant in Tipton.
A merger would create the fourth-largest automaker, with a combined market value of around $50 billion, and the potential for big savings in Europe.
The move announced Tuesday means that GM will be the focus of bargaining, and any deal with the company will set the pattern for Ford and Fiat Chrysler. It also means that if the union decides to go on strike, it will be against GM.
Fiat Chrysler abruptly withdrew an offer to merge with French automaker Renault late Wednesday, a shocking reversal of a deal that could have reshaped the global auto industry.
Chinese SUV maker Great Wall Motors is considering making a bid to buy Fiat Chrysler's Jeep unit, in a possible ambitious new step onto the global stage for China's fast-growing auto brands.
The Environmental Protection Agency issued a “notice of violation” to the company that covers about 104,000 vehicles, including the 2014 through 2016 Jeep Grand Cherokee and Ram pickups.
Workers overwhelmingly approved a new four-year contract in voting that ended Wednesday night. UAW represents more than 7,000 Fiat Chrysler workers in central Indiana.
The union announced the agreement just after 11:59 p.m. Wednesday, which was the deadline the union had set to reach a new deal or possibly go on strike.
The UAW represents around 40,000 factory workers in the United States. More than 7,000 of those employees work in Kokomo.
Holiday sales, cheaper gas prices and low interest rates pushed U.S. auto sales to big gains in December, helping the industry close out a strong year.
General Motors, Ford, Nissan and Chrysler all reported big gains as the major automakers reported July sales Friday.