Yesterday it appeared the US Government was prepared to give Chrysler additional aid and a thirty day deadline to complete its joint venture plans with Fiat. Now it looks as though Chrysler and Fiat may have already set up the ?framework of a global alliance?.
Nothing has been officially confirmed yet; however Chrysler has released a statement which details the unconfirmed agreement.
Under the arrangement with Fiat, Chrysler will gain access to small car platforms and technology while Fiat can opt to take SUV and minivan platforms. Production of Fiat models may also spread to Chrysler's plants.
Although not mentioned in any part of the statement, Fiat would likely gain a 35 percent stake in Chrysler but would not assume any responsibility for the US automakers debt.
If all parties involved - Fiat, Chrysler and the US Auto Industry Task Force - can come to an agreement, then a further Governement assistance package of USD $6 billion will be granted to Chrysler. For the time being Chrysler promises ?business as usual? over the next 30 days.