Fiat increases stake in Chrysler

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The Italian automaker Fiat agreed on Thursday to increase its stake in Chrysler to 58.5 percent from 53.5 percent.

The move comes after Chrysler won regulatory approval for a more energy-efficient car that is capable of achieving at least 40 miles per gallon. Fiat has pledged to build the new car, based on the Dodge Dart, in the United States by 2013.

“The acquisition of a further 5 percent of Chrysler is a fundamental step in completion of the integration between our two groups,” the Fiat and Chrysler chief executive, Sergio Marchionne, said in a statement.

Full story: Fiat Increases Stake in Chrysler –

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Kells Hetherington