Fiat and the Italian government have reached a positive agreement that will improve the company’s efficiency and export capacity, giving the automaker a huge boost.
Italian Prime Minister and Fiat CEO Sergio Marchionne met on Saturday to discuss the future direction of the company amid concerns generated by the crisis in the Eurozone.
However before the meeting Mr. Marchionne was full of praise for the incentives provided by the Brazillian government creating a new production plant in Brazil, echoing Italian minister Corrado Passera’s positive comments about the company’s operations in South America.
“I’m happy that Minister Passera took note of Fiat’s great results in that country”, said Marchionne. “I’m sure the Minister knows that car makers that go and produce in Brazil can obtain financing and fiscal incentives.”
After the meeting Fiat announced that it was going to focus a lot more on exports, “particularly outside of Europe” which will be music to the ears of fans across the globe. Full details of the company’s new plans will be announced on 30 October.
Fiat has also announced that it’s looking to focus more on its relationship with Chrysler and Jeep. Sources have claimed that the company will build models in its Italian plants, ready for sale in America.
According to Reuters Fiat’s shares were up two percent at 4.58 Euros at 1450 GMT today, which indicates investors have faith in the plans, if they come to fruition in the near future.