Fiat Still Committed to Chrysler

Tuesday, Italian automaker Fiat remained committed to gaining majority control over Chrysler, even with the recent Supreme Court stay on the sale. In the agreement, Fiat has the option to walk away from the deal if it is not completed by June 15. Three Indian pension and construction funds, which hold a portion of the remaining Chrysler debt, are claiming that the pending sale unfairly supports unsecured stakeholders vs. secured debt holders.

Amid the confusion and pending decisions from the Supreme Court, Fiat remains committed to Chrysler. “Fiat won’t walk away from Chrysler,” Fiat spokesman Gualberto Ranieri

The pending agreement allows Chrysler to have access to the environmentally-concious engine technologies and management expertise of Fiat, all for a 20 percent stake in the company.

Fiat will also bring the popular Fiat 500 and the Alfa Romeo brand to the U.S.

DrivePwr will continue report on the pending sale. Stay Tuned!

Fiat Bugster to be Unveiled at 2008 Brazil Auto Show. Click the above image to view the gallery with larger images.

I don’t know about you, but any time I hear about an all electric off-road vehicle, I get a little excited.  I live in Tucson, AZ where you see a LOT of off-road vehicles out and about, I can rarely go driving without seeing at least one or two.  So it goes without saying, this year we will be watching the 25th Salão Internacional do Automóvel in Brazil for the unveiling of this little-known vehicle. The event will run from the 30th of October through the 10th of November.  Look’s like Optimus Prime may have a new recruit.  The Fiat Bugster is powered by an all electric engine, with the exterior body made of molded natural fibers. And man does it look aggressive.

Although it may seem odd that Fiat is unveiling this in Brazil, this ethanol powerhouse is Fiat’s largest market outside of Italy, and production facilities produce 30% of all Fiats.  Details about the vehicle are still mostly unkown, but it is expected to feature Fiat’s Locker Series components. Although the consensus is that the vehicle is a little too aggressive for mass production, more electric vehicles in concept statistically means more electric vehicles produced.  We encourage world-wide research and development, even if its as far south as Brazil.