U.S. automaker Chrysler has decided to change its name to FCA US LLC effective immediately to follow the naming convention of its parent Fiat Chrysler Automobiles (FCA) NV (FCAU.N).
Italian automaker Fiat SpA took management control of Chrysler back in 2009 when the American company emerged from bankruptcy.
The switch will go unnoticed by customers, as it will mainly affect corporate and financial communications. Chrysler-branded vehicles will still have the Chrysler badge and Fiat vehicles will still feature the Fiat badge.
Earlier this year, Fiat finalized its purchase of all outstanding Chrysler shares, and listed the company officially on the NY Stock Exchange.
Chrysler confirmed to Reuters that the name change does not affect the company's headquarters in Auburn Hills, Michigan, its management team, board or holdings.
"FCA US, together with parent FCA, continues to work toward the business plan presented on Investor Day in May 2014," said the company, according to a FCA US press statement. "Additionally, the Company remains proud of its joint heritage. FCA US continues to build upon the solid foundations first established by Walter P. Chrysler in 1925 as well as a rich Fiat heritage that dates from 1899."
FCA US pays nearly 77,000 employees around the globe and operates 36 manufacturing facilities, including 23 in the U.S. and six in Canada.
Fiat Chrysler employs approximately 89,000 people in Europe, 40 percent of the worldwide workforce.
The automaker recently projected a 60 percent growth in sales to 7 million vehicles and an increase in net profit as much as $6.9 billion by 2018.
Chrysler, one of the "Big Three" American car companies, along with General Motors Co. and Ford Co., was founded back in 1925. It merged with German car Daimler-Benz in 1998 to become DaimlerChrysler, but switched to Chrysler LLC after the two companies split in 2007.