Fiat Chrysler Automobiles was formed in 2014 through the merger of Fiat and Chrysler; two automotive manufacturers whose co-operation dates back to 2007. In 2007, the Chrysler business was spun off from DaimlerChrysler after their partnership of nine years had proved unsuccessful. DaimlerChrysler reportedly sold 80.1 percent of its stake in the Chrysler Group to a private equity company, and DaimlerChrysler’s shareholders agreed to rename the core company to Daimler AG.
Detroit-based Chrysler then tumbled into financial distress in 2008. In the wake of the U.S. automotive industry crisis, the automaker was forced to plead for emergency government aid. Chrysler filed for bankruptcy in 2009 and finished repaying its debt two years later. Following its acquisition by Italy’s Fiat S.p.A., Chrysler was renamed FCA US LLC in December 2014. Fiat Chrysler Automobiles currently conducts business through 16 brands, the most prominent ones being Chrysler, Dodge, Ram, Jeep, Fiat, Alfa Romeo and Maserati; the Ferrari business was spun off mid-October 2015. In the fiscal year of 2016, FCA Group shipped some 4.5 million vehicles and generated about 111 billion euros in revenue. Although it is listed on stock exchanges in Milan and New York, the automotive manufacturer has its headquarters in the United Kingdom and the Netherlands.
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