Bob Kidder has been selected to lead the entity that will be formed from the partnership between Chrysler and Fiat SpA. Kidder was formerly chairman and CEO of Borden Chemical, Inc. and Duracell International Inc.
Interestingly, Kidder is also chairman and CEO of 3Stone Advisors LLC. From the 3Stone website:
3Stone Advisors manages the 3Stone Inflection Fund which is currently making control private equity investments in Cleantech businesses, with a focus on water. Typically, 3Stone invests $10 million to $50 million of equity in a company with a strong management and a strategically sound growth path. 3Stone engages at the strategic level, and holds management accountable for managing the growth of the business. We call this “active strategic engagement.”
It will be interesting to watch as Chrysler heads in a new “clean” direction. The outfit splashed onto the EV scene when they unveiled a suite of EVs at the North American International Auto Show. Further, it is thought that the partnership with Fiat is to give them a head start using Fiat’s small-car expertise.
Sunlight Research has studied patenting relating to the cooling of EV batteries as well as torque control of hybrid vehicles. Patent holdings for EV batteries ranked Chrysler as six, although it must be said that these properties now seem to belong to the United States Treasury. Fiat had no intellectual property in this sector, according to the forthcoming Sunlight Research report.
It will be interesting to watch how this new entity, which now seemingly has a great cleantech focus, will fair. While many note that Chrysler will benefit from Fiat’s technology, it seems that Fiat also has a great deal to gain from the partnership.
Tags: Chrysler, cleantech, fiat, patent, united states treasury