Fiat Chrysler Automobiles NV, the company that will be formed from the combination of Fiat SpA and Chrysler Group LLC, will be based in London, marginalizing Italy’s role for the automaker.
While Fiat Chrysler had long planned to have a fiscal domicile in the U.K. for tax purposes, it hadn’t selected a specific city. The manufacturer’s presence in the British capital will also be more than just a postal address.
“The board, my office and some of my functions need to operate out of London,” Chief Executive Officer Sergio Marchionne said during a press conference Thursday in Auburn Hills.
Fiat, Italy’s largest manufacturer, is reducing its reliance on its home country after buying full control of Chrysler in January. The Turin-based company will have its main stock listing in New York rather than Milan and will be registered in the Netherlands. While Marchionne hadn’t previously specified the city for the headquarters, he said in January that the U.S. had a “large claim” to the site.Read Article