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Viva Italia! Will Fiat Save the Day for Chrysler?

Monday March 9th, 2009 at 10:33 AM
Posted by: m35man

Fiat leader convinced he can help Chrysler

Christine Tierney / The Detroit News

WASHINGTON – The chief executive of Fiat SpA told the White House auto task force Thursday that the Italian automaker could help Chrysler LLC recover and repay the billions it is borrowing from the government.

CEO Sergio Marchionne also assured U.S. officials that none of the money lent to Chrysler would leave the United States if Fiat and Chrysler concluded their proposed alliance.

“The main objective is going to be to repay every single dollar of taxpayer funding before anybody gets anything,” he said after meeting with key members of the task force. Speaking with reporters as he left the U.S. Treasury building, Marchionne said he outlined to the task force the contributions Fiat would bring to Chrysler. “We think we’re adding significant technology and products to the offerings of Chrysler. With them, I think they’ve got a fair chance of making it.”

Read the full story at detnews.com>>

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