Fiat Favors Chrysler Partnership

By: Associated Press
By: Associated Press

Fiat Group CEO Sergio Marchionne says a Fiat-Chrysler alliance will strengthen the U.S. carmaker's finances and preserve American jobs.

Marchionne says an alliance would also accelerate Chrysler's efforts to make fuel-efficient vehicles.

He says that "Fiat's environmentally conscious technologies and small- and medium-car platforms will play a key role" in persuading U.S. consumers to buy Chrysler.

The Obama administration has made an alliance with Fiat a condition for Chrysler's obtaining an additional $6 billion in financing. A nonbinding agreement between the automakers would give Fiat a 35 percent share in Chrysler in exchange for small-car and other technologies.

Marchionne in a statement Monday thanked Obama for his encouragement to finalize a deal.

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