Chrysler, Cerberus and Fiat have reached an agreement on a framework of a global alliance that will be supported by the U.S. Treasury – which means no final agreement for its proposed partnership with Fiat has been reached as of yet.
In a statement released today after President Barack Obama’s speech, Bob Nardelli said “Chrysler has consistently said that the alliance with Fiat enhances its business model that expands its global competitiveness. We appreciate the willingness of the Task Force, along with industry and financial experts, to consult closely with us in order to achieve this significant step.”
Nardelli said that Fiat would provide Chrysler with products, platforms and technology that will help create and preserve jobs in the United States. He said that the partnership would give U.S. consumers more choices for fuel-efficient cars while giving dealers more products they need to be successful.
Nardelli said that it would also help Chrysler pay back government loans sooner.
– By: The Daily Auto Editor