Fiat is considering selling about 1.5 billion euros ($2.05 billion) in mandatory convertible bonds to cut debt following its merger with Chrysler Group, two people familiar with the matter said.The Italian carmaker, which bought the remaining Chrysler stake last month, is talking to banks about issuing a bond that would convert into shares of Fiat Chrysler Automobiles, the company being formed by the combination, said the people, who asked not to be identified discussing private matters.
Category Archives: General Talk
Tesla outlines scheme for $4-5B battery Gigafactory
Tesla outlined its plan for its future battery “Gigafactory”, projected to require between $4-5 billion in investment from Tesla and its partners by 2020, with a resulting cell capacity of up to 35 GWh/year and pack capacity of up to 50 GWh/y to service a projected 500,000 Tesla electric vehicles per year.
PSA-Dongfeng deal does more harm than good
The bailout that PSA/Peugeot-Citroen negotiated with the French government and its Chinese partner, Dongfeng Motor Corp., will prop up the French automaker in the short term. But the deal has shortcomings that could cripple PSA’s competitiveness in the long run.To be sure, PSA desperately needs money, and this deal provides it. Dongfeng and the French state each will pay 800 million euros ($1.09 billion) for a 14 percent stake in PSA. In the real world, nothing is free, and this agreement creates two big headaches for the French automaker.
Magna to introduce lightweight natural gas vehicle concept
To showcase its capabilities, global automotive supplier Magna International Inc. will showcase the MILA Blue vehicle concept at the Geneva Motor Show 2014. MILA Blue is a natural-gas powered, A-segment lightweight vehicle that produces less than 49g CO2/km.
Toyota hopes BMW diesel engine will lift Verso European sales
Toyota expects the majority of future Verso sales in Europe will be versions equipped with a BMW-sourced diesel engine.The Japanese automaker, which is the world’s No. 1 seller of gasoline-electric hybrids, is strengthening its diesel offerings in the region where about half of new vehicles sold are diesels.
