Fiat Industrial Receives Loan for ‘Green’ Tech Development

Green Fiat 1 photo
As the world struggles to recover from the recession (Europe more so than other regions), automakers, even those who want to develop planet-friendly technologies, receive much less backing than they should - from within their own company, so they are forced to accept loans from various banks.
In order to comply with the new and stricter emissions regulations soon-to-be-imposed by the European Union (EU), Fiat Industrial (a subsidiary of the ‘main brand’ which includes Iveco) have received a loan of €350- ($430-) from the friendly and honest European Bank of Investment (EIB), in order to carry out research in the field, and come up with new and ingenious ways to reduce the use of fuel as well as the cleaner burning of it.

Fiat is attempting to be one of the world leaders in green tech, but by choice - unlike some other, more ‘premium’ manufacturers, for whom the shift towards green has more to do with the stricter emissions limitations imposed by the central governing bodies, and not their desire to preserve the earth.

Apparently, the big German luxury manufacturers want their luxury cars to be exempt from abiding by the new, stricter emissions regulations, a mentality greatly criticized by Fiat CEO, Sergio Marchionne, along with PSA Peugeot-Citroen spokesman, Philippe Varin, and rightly so, as it promotes elitism and hatred and it would only create tension amongst regular people.

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