Fiat Rumored to be Interested in Buying a Majority Stake in Opel

Not long ago, the Fiat Group was partially in the arms of General Motors and in deep financial woes with many analysts then questioning the automaker’s future. Now, the Italians have emerged as an automotive powerhouse that’s not only fighting to form a partnership with ailing U.S. carmaker Chrysler but according to the latest reports, is also ready to invest in General Motors’ Opel and Vauxhall brands. Citing unnamed sources familiar with the negotiations, German magazine Spiegel went as far as to claim that Fiat will sign a letter of intent as soon as next Tuesday, something that will allow the Italian carmaker to obtain a majority stake in Opel.

The German magazine said however that Opel workers ‘sharply oppose’ Fiat’s interest in the company. Klaus Franz, who is a delegate of Opel employees on the company’s works council, told Spiegel that he feared “dramatic reduction of jobs at Opel and the closure of plants in Germany,” mainly due to the fact that two companies’ model portfolio overlap. Franz also said that company had bad experiences with Fiat in the past “We know the bride,” he was quoted saying.

Officially, Fiat has made no mention of GM’s European unit, which sounds reasonable since the Italians are still in the midst of negotiations with Chrysler LLC.

Our take? Fiat doesn’t seem to have learned anything from its past troubles and unsuccessful ventures with other automakers. Now, just as they have managed to shape up the company a bit, they’re trying to get into a new mess by acquiring / forming partnerships with ailing automakers at the worst possible time – during a world spread financial crisis. If anything else, Fiat should concentrate on fixing its own marques like Alfa Romeo and especially Lancia which has been a shadow of its former self for many years now.

Link: Spiegel

Lnyk&Co 03 Cyan Shatters ‘Ring Records For FWD And 4-Door Cars – Or Does It?

The 03 Concept lapped the ‘Ring faster than Jag’s XE SV Project 8 and Renault’s Megane RS Trophy-R.

Fiat Will Not Build A Successor To The 124 Spider – And That’s Sad

Fiat believes that the MX-5-based roadster isn’t important in its future and will focus on small cars instead.

F1 Starts Wind Tunnel Testing Of 2021-Spec Aero Pack

The final touches are being made to the overhauled 2021 F1 season regulations that aim to ultimately make overtaking easier.

If Only BMW Made A Street-Legal, V8-Powered i8 Like This Racer

It looks like an i8, but apart from that, it has absolutely nothing in common with BMW’s hybrid sports car.

Glacier White Metallic Audi A7 Sportback Poses At The Forum

In 55 TFSI quattro spec, the A7 Sportback is capable of hitting 60 mph in just 5.2 seconds.

Nissan Still Weighing Its Options On The R36 GT-R’s Powertrain

The successor to the 12-year old GT-R will either be a hybrid or an all-electric. And that’s a definite maybe…

2020 Porsche Taycan Interior Fully Revealed, Even The Passenger Gets A Touchscreen

The Porsche of the future sure is futuristic.

Chevrolet Details 2020 Bolt, Confirms 259 Mile Range

Despite being able to travel an extra 21 miles, the car will still cost $37,495 before incentives.

Audi Could Team Up With BMW And Mercedes On Autonomous Driving Tech

An announcement could come at the Frankfurt Motor Show.

Richard Hammond Celebrates His Mid-Life Crisis With A (….Sponsored) Ford Ranger Raptor

Richard Hammond even shocks his passengers with some off-roading in the Ford Ranger Raptor.