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Following this goal, in 2020, Stellantis (then PSA Group) expanded its circular economy initiatives with the acquisition of B-Parts, a leading platform specializing in the sale of used auto parts. By integrating platforms like B-Parts into its aftermarket services, Stellantis aims to enhance resource efficiency and provide cost-effective and ...
On Sunday, May 31, 2009, bankruptcy judge Arthur J. Gonzalez approved a proposed government restructuring plan and sale of Chrysler's assets. The sale allows most of the assets of Chrysler to be purchased by a new entity in which Fiat would own 20%, and the autoworker's union retirement health care trust (voluntary benefit association "VEBA") 55%, with the U.S. and Canadian government as ...
The terms saw Daimler pay Cerberus US$650 million to take Chrysler and associated liabilities off its hands. Of the US$7.4 billion purchase price, Cerberus Capital Management was to invest US$5 billion in Chrysler Holdings and US$1.05 billion in Chrysler's financial unit. The de-merged Daimler AG received US$1.35 billion directly from Cerberus ...
The Chrysler company was founded by Walter Chrysler on June 6, 1925, [12] [13] when the Maxwell Motor Company (est. 1904) was re-organized into the Chrysler Corporation. [14] [15] The company was headquartered in the Detroit enclave of Highland Park, [16] [17] [18] where it remained until completing the move to its present Auburn Hills location in 1996.
Mopar Parts magazine advertisement from 1954. The term was created by an internal activities council and was first used by Chrysler in 1937 as a product name to put on cans of Chrysler Motor Parts Antifreeze. [1] This new branded product became known as "MoPar antifreeze" a portmanteau of the terms "motor" and "parts". [2]
The purchase was part of Chrysler's strategic "retreat-cum-diversification" plan that he states did not have the proper focus. Initially, the goal was to obtain the world-renowned Jeep brand. However, Lutz discovered that the decision to buy American Motors turned out to be a gold mine for Chrysler. [150]