Fiat will not call a shareholders’ meeting to waive or raise the €500 million ($668 million) limit it has set for paying out dissenters in its merger with Chrysler, the carmaker said Tuesday.
CEO Sergio Marchionne wants to incorporate the two carmakers into Dutch-registered Fiat Chrysler Automobiles, paving the way for a U.S. listing to help fund an ambitious investment plan at the world’s No. 7 auto group.
Until recently, the National Development and Reform Commission, a ministry-level government body, was very friendly toward foreign automakers, approving numerous factory projects the companies sought.
By LARRY NEUMEISTER
A federal judge told lawyers on Monday he’ll encourage settlements in lawsuits brought on behalf of nearly 1,000 plaintiffs against General Motors for defective ignition switches.
General Motors said its passenger-vehicle joint venture in China was contacted by the nation’s antitrust regulator amid an industry investigation that has seen at least seven foreign carmakers cut prices.
Volkswagen increased sales at its core passenger-car brand by 4 percent in July as higher deliveries in western Europe and China offset declines in the United States and Brazil.
