Talks between Chrysler and Chery Automobile to build a small Dodge car have officially broken off. The talks were put on hold earlier last month as both companies continue to run out of money. It was reported earlier this year at the Beijing Auto Show that the new small car, based on a Chery, would not meet U.S. safety standards.
“Chrysler LLC has confirmed that Chery Automobile Co. and Chrysler have mutually agreed that it is in each company’s best interest to conclude their discussions on a strategic cooperation agreement that have been active since July 2007,” Mike Manley, executive vice president of Chrysler’s international sales and marketing, told the Detroit News.
He said that although both companies will pursue their own business objectives, the talks allowed them both to gain better insights into future opportunities.
Source: Detroit News