Fiat Group has purchased the remaining half of Italian diesel engine manufacturer VM Motori S.p.A from General Motors for 34.1 million euro ($49.3 million).
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The acquisition gives Fiat complete ownership of the engine maker, which supplies diesel engines for various Chrysler Group models including the Ram 1500, Jeep Grand Cherokee and Chrysler 300C.

In January 2011, VM Motori launched its latest engine, a 3.0-litre V6 available in two states of tune: 140kW and 180kW. The more powerful version develops its 550Nm peak torque between 1800-2800rpm.

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The diesel Grand Cherokee went on sale in the United States this fall, while a diesel Ram 1500 is expected to hit showroom floors during the first quarter, 2014.

Diesel engines are slowly gaining favour in the US due to high petrol prices, prompting Chrysler executives to consider expanding the diesel option to other vehicles in its line-up.

VM Motori’s single Cento plant in Italy covers 85,000 square metres and produces about 90,000 engines each year.