Israel's Prime Minister's Office (PMO) through the Israel Fuel Choices Initiative (IFCI) has today signed a non-binding Memorandum of Understanding (MoU) with Fiat Chrysler Automobiles (FCA), Iveco (a Brand of CNH Industrial) and Magneti Marelli (FCA Group) for co-operation in the development of natural gas based technologies. The signatories are also discussing the possibility of establishing an extended research and development (R&D) co-operation program involving Israeli companies in fields related to alternative fuels, smart mobility and other automotive industry related activities.
FCA, with its lineup of passenger cars and light commercial vehicles and Iveco across its range of trucks and buses, are recognized leaders in the development, manufacture and distribution of vehicles powered by compressed natural gas (CNG) featuring advanced multi-fuel technologies such as Magneti Marelli's powertrain control solutions.
FCA and CNH Industrial are strongly committed to reducing the environmental impact of road transport and this is a key pillar of their highly-ranked sustainability policies.
FCI is a ten-year Israeli Government program, managed through the Prime Minister's Office, dedicated to reducing the World's dependency on oil for transport and supporting the development of alternative fuels. The Government ofIsrael has set an objective to establish the country as an alternative fuels knowledge hub by supporting the development and implementation of next-generation technologies. The program calls for the increased use of alternative fuel technologies in Israel's transportation sector with a significant portion of the vehicle fleet being so equipped by 2020.
Today's signing follows the joint statement made in December 2013 by the Governments ofIsrael and Italy that stressed the mutual desire for co-operation and innovation in alternative fuels for the automotive sector, and the Israeli-Italian industrial R&D co-operation agreement, under which the two Governments initiated a support program for bi-lateral R&D collaborative activities between Israeli and Italian companies.
Fiat Chrysler Automobiles N.V. (FCA), the seventh-largest automaker in the world, designs, engineers, manufactures and sells passenger cars, light commercial vehicles, components and production systems worldwide. The Group's automotive brands are: Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram, SRT, Ferrari and Maserati, in addition to Mopar, the parts and service brand. The Group's businesses also include Comau (production systems), Magneti Marelli (components) and Teksid (iron and castings). FCA is listed on the New York Stock Exchange ("FCAU") and the Mercato Telematico Azionario inMilan ("FCA"). More information can be found on the corporate website: www.fcagroup.com
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found at: www.cnhindustrial.com and www.iveco.com
Magneti Marelli designs and produces advanced systems and components for the automotive industry. With its 85 production units, 12 R&D centres and 26 application centres in 19 countries, some 38,000 employees and a turnover of6.5 billion Euros in 2014, the group supplies all leading carmakers in Europe, North andSouth America and the Far East. Its business areas include: Electronic Systems, Lighting; Powertrain, Suspension Systems and Shock Absorbers, Exhaust Systems, Aftermarket Parts & Services, Plastic Components and Modules, Motorsport. Magneti Marelli is part of FCA. More information can be found on the Company website: www.magnetimarelli.com
The Fuel Choices Initiative, Israel's national program for alternative fuels in transportation, serve as a catalyst for the reduction of global dependence on crude oil by establishingIsrael as a center of knowledge and industry in the field of fuel alternatives. The Initiative has been budgeted for ten years in order to create regulatory stability and an investment horizon for market stakeholders, and includes tools to strengthen scientific and applied research in the field, simplify bureaucracy, and strengthen entrepreneurship and industry.