Fiat and Chrysler in talks to form a strategic partnership

Chrysler LLC and Fiat are in talks to form a strategic partnership that could lead the Italian automaker to take a stake in the struggling U.S. automaker. According to sources familiar with the matter, Fiat could give Chrysler access to its platforms, engines and transmissions.

Fiat’s CEO Sergio Marchionne told reporters back in December that Fiat was looking for a partner in the U.S. to survive the global economic crisis. Fiat currently sells only Ferrari and Maserati models in the U.S. The Italian firm has previously said that it is considering selling its Fiat 500 mini car in the U.S. as well.

No one from Fiat or Chrysler was available for immediate comment.

Source: CNNMoney