The merged company of Fiat Chrysler are set to reach over 6 million vehicles produced each year according to their CEO Sergio Marchionne.
This has been a long standing statement made by the CEO and he reckons that any major automobile manufacturing company wishing to seriously compete in the world market will need to be producing at least this amount of vehicles.
It is expected for the final legalities for the merger of Fiat and Chrysler to be completed by the end of 2014, and the company Fiat Chrysler Automobiles will be formed. This will be the world's seventh largest automobile manufacturing company.
It is Marchionne's aim to have production up to 6 million vehicles each year by 2018. He made this statement to reporters and Fiat shareholders at a recent meeting at Fiat's headquarters in Turin, Italy.
Last year Fiat Chrysler sold 4.4 million vehicles and they are aiming to increase that to 4.5 or 4.6 million this year. The biggest markets for the joint company are the US and Asia.
Once Fiat Chrysler Automobiles is established they will have their legal headquarters in Holland while their Fiscal headquarters will be in the UK, keeping things neutral for both parties. They will trade shares in both New York and Milan.
This is what Marchionne has to say on the merger: "The truth, however, is that our strength today derives from the union of these two realities, from the fact that each will conserve its own identity and will make available its own strong points."
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