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Fiat moving to New York ? * Italy
* Italy - Fiat said to be considering headquarters move to U.S.
Turin,Italy -The Detroit News/Bloomberg News, by Tommaso Ebhardt and Mark Clothier -May 16, 2013: -- Fiat SpA, is considering moving its corporate headquarters to the U.S. following a planned merger with Chrysler Group LLC, three people familiar with the matter said... Chief Executive Officer, Sergio Marchionne, is evaluating the switch from Turin, where Fiat was founded in 1899, to the U.S. as the carmaker's revenue and profit center shifts to North America, the people said, asking not to be identified discussing the internal deliberations. Fiat generated 75 percent of 2012 operating profit in North America... No final decision on the headquarters has been made and other options are being examined, the people said... Marchionne said last month that he favored a primary listing in New York for the company... Moving Fiat's headquarters away from Turin's iconic Lingotto, a former car plant with an oval track on its roof, could create a political backlash in debt-ridden Italy, where the industrial sector is in decline...
* Germany - Volkswagen starts construction of 300,000-vehicle plant in China
(Photo: Volkswagen's Audi, Chinese-made vehicles) 
Wolfsburg,Germany -Bloomberg News, by Chua Kong Ho/Young-Sam Cho -May 16, 2013: -- Volkswagen AG began construction of a new factory in Changsha, China, as part of plans to increase manufacturing capacity in the world’s biggest auto market... The plant, with an annual capacity of about 300,000 vehicles, is scheduled for completion by the end of 2015, Volkswagen, Europe’s largest automaker, said in an e-mailed statement today... The Changsha plant is one of seven factories being built by Volkswagen as part of a 9.8 billion-euro ($13 billion) investment in China, whose auto association projects new-vehicle sales will top 20 million units this year...
Labels: carmakers news worldwide
posted by Unknown @ 11:03 AM
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