In a move that would see an expansion to challenge the likes of General Motors Co., Toyota Motor Corp., and Volkswagen AG, Fiat Chrysler Automobiles is looking to invest $55.5 billion to expand the Alfa Romeo, Jeep, and Maserati lineups, with 20 new models hitting the road by 2016 to attract customers around the globe. The new models would include two new Alfa Romeos and the Maserati Alfieri.
According to a report from The Detroit News, CEO Sergio Marchionne hopes to boost sales by 60 percent to seven million cars in 2018, following a boost in sales to over five millions cars this year. The automaker expects increased demand in worldwide markets including Brazil, Europe, the Middle East, Africa, Asia, and North America.
The Detroit News also reports that FCA is adding over 1,000 new workers to the Italian plant building the Jeep Renegade in order to help meet demand.
So far, the automaker hopes to cut debt by raising $5 billion with a separation of the Ferrari brand and the selling of a 10 percent stake in the unit on a stock market later next year.
Fiat Chrysler Automobiles was created last year through the merger of Fiat S.p.A and Chrysler Group, and is represented by numerous brands, including Dodge, Lancia, Ram Trucks, Abarth, Mopar, and SRT.
Click past the jump to read more about Fiat Chrysler’s new 20 models.
Fiat Chrysler Plans 20 New Models By 2016 originally appeared on topspeed.com on Friday, 30 January 2015 14:00 EST.
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