Fiat SpA’s Chief Executive Officer Sergio Marchionne said he was very pleased today with the way that the Obama administration viewed the Italian company as a good partner for Chrysler. Obama said that Chrysler has 30 days to conclude a partnership with Fiat or the government will not invest any additional taxpayer funds into the company. He said that the government is willing to pump $6 billion into the company if it partners with Fiat.
Sergio Marchionne’s Statement:
I would like to publicly thank President Obama, on behalf of the entire Fiat management team, for the kind words he used in referring to our work over the past five years and for his encouragement to finalize a sound alliance between Chrysler and Fiat.
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We are firmly convinced that Fiat’s environmentally conscious technologies and small and medium car platforms will play a key role in re-establishing a close rapport for the Chrysler brands with the American consumer. Our alliance will not only make Chrysler a stronger company financially, but it will also help preserve American jobs, significantly accelerate Chrysler’s efforts to produce fuel efficient vehicles, and lead to a more rapid repayment of U.S. taxpayer dollars.
The engagement with the President”s Automotive Task Force has been tough but fair, and we believe we will arrive at a result that will establish a credible future for this crucial industrial sector and that assigns the right priority to the repayment of US taxpayers” funds.
We are delighted that Fiat can play a key role in this important endeavour.
– By: Omar Rana