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PressClub USA · Article.
BMW GROUP AND FIAT GROUP AUTOMOBILES SIGN MEMORANDUM OF UNDERSTANDING
Wed Jul 09 20:15:00 CEST 2008 Press Release
+++ Cooperation on architectures and components under consideration +++ Proposed use in MINI and Alfa Romeo vehicles +++
+++ Cooperation on architectures and components under consideration +++
Proposed use in MINI and Alfa Romeo vehicles +++
Munich/Turin. The BMW Group and Fiat Group Automobiles (FGA) are considering
the possibility of co-operation in the areas of architectures and components
for their MINI and Alfa Romeo vehicles. A Memorandum of Understanding to this
effect was signed by Friedrich Eichiner, member of the Board of Management of
BMW AG responsible for Corporate and Brand Development, and Alfredo Altavilla,
Senior Vice President, Business Development, Fiat Group Automobiles and CEO of
Fiat Powertrain Technologies.
"We are currently examining with the Fiat Group possibilities for the joint use
of components and systems in MINI and Alfa Romeo vehicles in order to achieve
economies of scale and thus cost reductions within the framework of our
Strategy Number ONE", Eichiner said in Munich.
"The proposed co-operation with BMW is a significant cornerstone of our
strategy of alliances. We are delighted to work with such an esteemed and
respected partner in the automotive industry with the clear objective of
improving the competitive position of both parties," Sergio Marchionne, CEO of
Fiat Group and FGA, said in Turin.
The two partners have agreed not to divulge details of the possible
collaboration. The results of the cooperation discussions will probably be
achieved by the end of the year.