Key Safety Systems, a maker of components for the auto industry, is close to being bought by Chinese private equity firm FountainVest Partners for as much as $800 million, said people with knowledge of the matter.
Fiat SpA is adding 800 employees in Sterling Heights, Michigan, to support production of the redesigned Chrysler 200, reviving a factory that was almost shuttered following the U.S. automaker’s 2009 bankruptcy.
Chrysler Group LLC and General Motors Co. announced plans to boost production and add jobs as U.S. President Barack Obama visited the Detroit area today to promote the government’s bailout of the auto industry.
Valiena Allison got a call from her bank on a busy morning two years ago about a wire transfer from her company’s account. She told the managers she hadn’t approved the transfer. The problem was, her computer had.
Chrysler Group LLC, the U.S. automaker operated by Fiat SpA , may repay its U.S. and Canadian government loans before 2013, allowing the Italian automaker to take a 51 percent stake, the companies’ top executive said.
Chuck Eddy, who has been a Chrysler dealer for 45 years, has to go back to the time of Jimmy Carter’s White House to recall when he last had a strong mid- size car to sell. That will change, he says, after this morning’s Chrysler sedan unveiling at the Detroit auto show.
Ford Motor Co. plans to triple North American production of electric vehicles and hybrids to more than 100,000 models by 2013 as it works to make a quarter of its vehicles run at least partly on electricity.
Chrysler Group LLC may hire more than 3,000 workers and add production shifts at plants in Michigan and Illinois in coming months to increase sales of some of its most popular vehicles, a United Auto Workers official said.