– Fiat SpA said it will launch 20 new models over the next three years and invest $4.9 billion in research and development over the next 4 years as part of a turnaround bid. Sergio Marchionne, the automaker’s CEO, also vowed not to shut down any factories in Italy. The new models will come in the Fiat, Lancia, Alfa Romeo and commercial vehicle lines, the company said.
– Lee Iacocca isn’t the only celebrity turning up in Chrysler’s ads. Rapper Snoop Dogg appears with the former chairman in ads for the automaker’s employee pricing promotion. Chrysler spokeswoman Suraya DaSante said the pairing isn’t as odd as it seems. Snoop Dogg is a Chrysler fan who called company last year asking for a Chrysler 300C sedan. “They’re both total car guys,” DaSante said.
– Cargill is breaking ground in Iowa Falls, Iowa, to build the world’s largest biodiesel plant, expected to churn out 37.5 million gallons of fuel a year. There is no estimate for when the plant will be up and running.
– Germany’s financial services watchdog said it has opened an investigation into possible insider trading at DaimlerChrysler AG, focusing on dealing ahead of the announcement that CEO Juergen Schrempp was to retire. Sabine Reimer, a spokeswoman for Berlin-based BaFin, said the probe was not limited to specific people or trades.
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Transportation in brief is compiled from the notebooks of Jim Mateja and Rick Popely, and from Tribune news services.
