Chrysler Selling Its Parts Division To Japan's Calsonic Kansei
Chrysler Selling Its Parts Division To Japan's Calsonic Kansei
The new CEO of Fiat Chrysler Mike Manley has recently issued a statement that they will be selling Magneti Marelli, their parts division, for over $7 billion. The sale would result in Japan's Calsonic Kensei becoming one of the world's biggest parts manufacturer, as well as allowing Chrysler to focus on the development of programs such as autonomous vehicles and EVs.
The immediate boost to revenue can be partly diverted into research, development, and partnering with tech companies to push past their competition. Adjusting to a changing technological landscape has historically been a stumbling block for Chrysler, who have fallen behind established electric vehicle manufacturers such as GM and Nissan.
Calsonic Kensei is already a global giant in the parts world, with the recent acquisition cementing their place as one of the top players in the international market.
They currently have almost 60 manufacturing centers in several countries including the US, Mexico, and France.
The sale is estimated to be finalized in Q1 of next year, and will be closely watched by service professionals as well as collision experts such as our partners at Service King Babcock here in San Antonio, TX.
Written By: Todd Hendrickson
Source: Consumer Affairs
Social