What’s the deal with the Russian automaker?
What is the deal between the Gremlin and Fiat Chrysler?
The automaker announced on Thursday that it is buying the American automaker, the company that makes the Chevrolet and Dodge vehicles, for $13.4 billion.
The deal is expected to be completed by the end of 2019.
According to The Associated Press, Fiat Chrysler and the United Auto Workers Union have agreed on a deal that will give the union representation on the Fiat Chrysler Assembly line, and the company is also negotiating a deal with a major labor union that represents Chrysler employees.
According for example, if a strike by workers were to break out, the union would have a say on who would be hired as Fiat Chrysler engineers.
Fiat Chrysler said that the deal will also ensure that the company’s vehicles will have an affordable price tag for consumers, which is what it is trying to do.
The American automakers have been trying to cut costs in order to compete with foreign rivals such as Volkswagen and Audi.
Fiat, which has more than 500,000 employees, said that it will spend $4.5 billion on the purchase of the American business, including a $3.9 billion purchase price for a factory in North Carolina.
Fiat has been struggling with low demand for its vehicles, and it is struggling to meet increasing demand from consumers, who want to buy cars that are more fuel-efficient, cleaner, more environmentally friendly and cheaper.
Fiat CEO Sergio Marchionne, who has led the automaker since 2011, has said that if he doesn’t get a deal done soon, the automakers planned to reduce its production by around 20 percent.
The automakers deal with Fiat Chrysler comes as the global economy is growing and it faces a growing number of challenges.
In October, the U.S. Federal Reserve raised interest rates for the first time in almost five years, and in December, the European Central Bank announced that it was raising its benchmark interest rate for the second time in less than a year.
The International Monetary Fund recently warned that the global economic recovery will not be as strong as previously expected and may slow significantly in the coming years.
Fiat is also a major competitor of General Motors and Chrysler, both of which have experienced significant layoffs as a result of the financial crisis.
The U.K.-based automaker has said recently that it plans to spend $7 billion to improve its quality of its vehicles in the next five years.