In conjunction with the 2010 Chicago auto show, the Economic Club of Chicago was geared-up for a Thursday speech from Fiat Auto Group and Chrysler Group LLC chief executive Sergio Marchionne.

Instead, Marchionne traded one snowy city for a place probably a lot snowier, bowing out of the Chicago engagement in order attend the signing of a new Fiat venture in Russia.

Marchionne plans to be on hand tomorrow for the signing of a joint venture with Russian automaker OAO Sollers to produce Fiat cars at an existing Sollers assembly plant in Naberezhniye Chelny, located in west central Russia. Russia Prime Minister Vladimir Putin reportedly also plans to visit the plant tomorrow.