Fiat’s Chrysler stake rises to 58.5 percent

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Chrysler announced early this morning that Fiat S.p.A.’s ownership interest has increased to 58.5 percent. The company achieved the last of three performance-related milestones in late December, when the new Dodge Dart was certified as achieving a combined fuel efficiency rating of 40 miles per gallon.

As required in its June 10, 2009 Operating Agreement with the U.S. government, Chrysler Group has issued a letter to the Treasury Department is irrevocably committed to begin assembly of a vehicle with an unadjusted combined fuel economy of at least 40 mpg in commercial quantities in a production facility located in the United States. When the letter was issued, the five-percent increase in Fiat’s ownership interest occurred automatically.

The ownership interests of Chrysler Group’s members are now: Fiat: 58.5 percent; UAW VEBA: 41.5 percent.