article thumbnail

Fiat Chrysler reaches $300 million plea deal following emissions fraud probe

Teslarati

Fiat Chrysler Automobiles (FCA) has reached a $300 million plea deal after pleading guilty to criminal conduct concerning an emissions fraud probe involving its vehicles with diesel engines, a new report from Reuters said. Just days before the announcement, the EPA ordered the recall of affected vehicles manufactured between 2009 and 2015.

article thumbnail

Chrysler Group withdraws its application for DOE Advanced Technology Vehicles Manufacturing Loan

Green Car Congress

Chrysler Group LLC withdrew its application for an Advanced Technology Vehicles Manufacturing loan from the Department of Energy. Chrysler had a great year in 2011 and posted a 44 percent increase in sales for January 2012 alone. Chrysler made its first request for $8.55 —Rep.

Chrysler 225
article thumbnail

Fiat exercises the first tranche of VEBA call option, will hold 61.8% of Chrysler

Green Car Congress

benefits for retirees from Chrysler—of Fiat’s exercise of its option to purchase a portion of the interest held in Chrysler by VEBA. of the outstanding equity in Chrysler. This exercise for the initial tranche of Chrysler equity covered by the call. of Chrysler’s outstanding equity. will hold 61.8%

Chrysler 225
article thumbnail

Chrysler to invest nearly $20M to increase capacity for torque converters for 9-speed transmission

Green Car Congress

Chrysler Group LLC will invest $19.6 With this announcement, the company’s total investments in its US operations since June 2009 increase to more than $5.2 —Scott Garberding, Senior Vice President, Manufacturing, Chrysler Group LLC. Transmission Plant I. The new transmission will debut in the 2014 Jeep Cherokee.

Chrysler 225
article thumbnail

Fiat increases ownership in Chrysler Group to 25%

Green Car Congress

Fiat’s ownership interest in the Chrysler Group has increased from 20% to 25% based upon Chrysler’s achievement of the first of three performance-related milestones. The ownership interests of Chrysler Group’s members are now: UAW VEBA: 63.5%. facility. Fiat: 25.0%. US Treasury: 9.2%. Canadian Governments: 2.3%.

Chrysler 210
article thumbnail

Chrysler investing $114M in Trenton, Mich., facility to boost Pentastar production

Green Car Congress

Chrysler Group LLC will invest $114 million in new equipment at its Trenton Engine Complex to support increased production of the Pentastar engine. Since June 2009, Chrysler Group has invested nearly $3.2 The Pentastar engine was recently recognized by Ward’s Automotive as one of the “Ten Best” for 2010.

Chrysler 186
article thumbnail

Chrysler Group LLC completes refinancing and repays US and Canadian government loans

Green Car Congress

Chrysler Group LLC announced the repayment of $7.6 Today, Chrysler made payments of $5.9 billion to Export Development Canada (EDC) to retire the loans granted when Chrysler Group began operations in June 2009. Today, Chrysler made payments of $5.9 billion from the Canadian governments in June 2009 ($2.6

Chrysler 186