FIAT RECEIVES STATE AID APPROVAL AFTER ATTACK ON SUBSIDIES BY COMPANY BOSS
April 1st, 2009
BY KEITH NUTHALL
ITALIAN car giant Fiat has been granted Euro 46 million in state aid by the Italian government, one month after its boss attacked handouts for other European auto makers. The European Commission authorised this state aid today (April 29) which will be spent on retooling the company's Termini Imerese plant in Sicily so it can make a new Lancia model. This will replace the existing Lancia Ypsilon, which is currently made at the factory. The decision follows a public attack by Fiat CEO Sergio Marchionne at the company's annual general meeting in ...
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