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Fiat's new production plans will
see a combined output of up to six million autos per year by
2018, Chief Executive Officer Sergio Marchionne said Monday.
"With the initiatives we will announce in May, six million
is achievable", he told a shareholder's meeting in the northern
industrial city of Turin.
Fiat and Chrysler, which delivered a combined total of 4.4
million cars last year, will unveil a new multiyear business
plan in May.
He also said that Fiat will hold just one more major
meeting in the company's traditional headquarters in Turin.
After that, it will move important meetings to the merged
automaker's new registered headquarters in The Netherlands, he
said.
Iconic automaker Fiat announced in early January that it
had gained full control of the American automaker Chrysler after
years of planning.
The $4.35 billion deal will allow the new Fiat Chrysler
Automobiles to become the world's seventh-larged automaker.
However, the new FCA - as the merged entity is now known -
will have its tax base in the UK, most likely London, while its
registered office is in The Netherlands.
Fiat was born more than 100 years ago in the northern
industrial city of Fiat and its current management has assured
Italian politicians, unions and its employees that the corporate
changes will not affect operations in Italy.
The newly merged automaker will be making use of Chrysler's
strong earnings in its home market of the United States, but the
company has also pledged to pay more attention to its luxury
brands, such as Maserati.
"We have some good news this year," Fiat Chairman John
Elkann told the annual general meeting.
"2013 has been full of success for Fiat," he said.
"The losses in Europe were reduced and premium brand
development is giving positive results," he added.
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