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Fiat currently owns 20 percent of Chrysler and can raise its stake to 35 percent once it satisfies three criteria: builds a plant in the U.S. to assemble fuel efficient engines; builds a 40 mpg car in the U.S. and expands Chrysler's international reach. For each milestone achieved, Fiat gets another five percent of Chrysler. The first hurdle looks like it will be cleared next year, with Fiat committing to building the 500's 1.4-liter, 92-horsepower engine in Dundee, Michigan at what was once the

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In a none-too-shocking announcement, Chrysler has said it will invest $179 million to convert its engine plant in Dundee, Michigan, from building the so-called World Engine to Fiat's 1.4-liter Fully Integrated Robotized Engine. Back in September, Chrysler bought out its former partners Hyundai and Mitsubishi so that it could utilize the Dundee facilities to build the new Multiair powerplants.

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In a none-too-shocking announcement, Chrysler announced plans to invest $179 million to convert its engine plant in Dundee, MI, from building the so-called World Engine to Fiat's 1.4-liter Fully Integrated Robotized Engine. Back in September, Chrysler bought out its former partners Hyundai and Mitsubishi so that it could utilize the Dundee facilities to build the new Multiair powerplants.

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