Chrysler Other 300 K on 2040-cars

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Fiat ups Chrysler stake by 3.3%, inches closer to full control

Fiat is one step closer to completing a merger with Chrysler after exercising an option to acquire an additional 3.3 percent of the Auburn Hills-based automaker today. Automotive News reports that Fiat now controls 68.49-percent of Chrysler, which is up almost 10 percent since we last heard news of this deal back in February when Fiat talking to various banks to raise more capital in order to complete the acquisition.
The article says that Fiat is still able to increase its stake in Chrysler up to 75 percent over the next 12 months, but it sounds like CEO Sergio Marchinonne would rather purchase the remaining shares from VEBA - the retiree benefits trust - sooner rather than later. Unfortunately, the two sides still seem far from an agreement on a fair price for the rest of Chrysler, as Fiat has them valued at $4.2 billion compared to the $10.3 billion estimate from the unions that currently own the remaining stake in Chrysler.

Watch a roundabout foil a driver fleeing from the cops

Roundabouts aren't just improving traffic flow and confusing the elderly, the circular intersections are helping to fight crime now as well. A Michigan scofflaw fleeing from police was thrown for a loop last week when he entered a newly-built roundabout at 90 miles per hour and flipped his car. According to WXYZ, on the evening of August 18 a police officer in Marysville, Michigan attempted to stop a tan Chrysler Concorde traveling north on Range Road with expired tags. At first, the driver of the Chrysler seemed to comply and activated his turn signal. Then, with no warning, he sped off in an attempt to escape the officer. "They proceeded northbound on Range Road, through Marysville, and entered Port Huron Township approximately 90 to 100 mph," said Marysville Police Sergeant John Stover. The chase was cut short in dramatic fashion after about four miles when the Chrysler approached the intersection of Range and Griswald to discover that it had recently been turned into a roundabout. Dashcam footage from the pursuing MPD cruiser show the fleeing driver hit the brakes coming into the roundabout, but it did him little good. The rear end of the car stepped out and bumped over the curb surrounding the traffic island. The car flipped on its side, slid into the center of the island and came to rest on its roof. The driver and his passenger – Jeffery Sharp and Nichols Belkiewicz – both have sizable rap sheets and Belkiewicz has an outstanding warrant. Thankfully no one was injured in the crash, but both men are facing numerous charges including eluding, driving with a suspended license, and firearms charges. Related Video: News Source: WXYZ Auto News Weird Car News Chrysler Driving Safety Videos Sedan Michigan police chase roundabout

Chrysler set to make $266M-investment into 8-speed transmission production

Chrysler will shortly make a significant $266-million investment into its Kokomo, IN transmission factory in a bid to expand production of its eight-speed automatic transmissions. The gearboxes, which are built under license from Germany's ZF Friedrichshafen, have been well received by customers and critics, and according to an SEC filing obtained by Automotive News, the transmissions will eventually find their way to all of Chrysler's rear-drive offerings (Viper and heavy-duty Ram models, aside). According to AN, a Chrysler spokesman says the investment has not been confirmed, but once it is, it'll mark the company's latest in a growing line of investments at the facility. Chrysler has poured $1.5 billion into Kokomo since 2009.