President Obama announced this afternoon that Chrysler will seek bankruptcy and enter an alliance with Fiat.
The American government will support Chrysler through the bankruptcy process and afterwards in a total of up to $8 billion. It is also expected that the Canadian government will provide $1 for every $3 in American support.
In the Fiat agreement, Fiat will provide technical operations and build at least one vehicle model in a Chrysler plant.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.