Fiat’s CEO meeting with Obama’s auto task force on Thursday

Sergio Marchionne, Fiat SpA’s CEO will be meeting with members of Obama’s auto task force on Thursday morning to discuss how the Italian company will benefit Chrysler if the two decide to seal their proposed partnership.

Marchionne will be meeting with U.S. Treasury Department’s auto team headed by Steven Rattner who invited him to Washington. Fiat spokesman Gualberto Ranieri said that Marchionne has been asked to detail the “contribution of Fiat to Chrysler in terms of technology and so on.”

Chrysler has already received $4 billion in government loans and is seeking an additional $5 billion. Both General Motors and Chrysler will submit a second report on March 31 showing how they plan on becoming viable in the long-term.

As a part of their proposed partnership, Fiat has agreed to provide Chrysler with small-car platforms and fuel-saving technologies in exchange for a 35 percent stake.

Source: Detroit News