Sergio Marchionne

  • EU carmakers want $55 billion loan package

    American carmakers recently secured a $25 billion loan guarantee from the federal government, and now their European counterparts are seeking the same sort of deal from the European Commission. Asking for a somewhat more significant $55 billion in loans, the industry has the money earmarked for development of ecologically improved products and vehicles. The charge is being led by Sergio Marchionne, CEO of Fiat, though he claims there is unanimous support for the proposal among vehicle manufacturers throughout the European Union, reports Reuters. The value of the loan package is significantly...

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