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Obama announces Chrysler-Fiat partnership

President Barack Obama on Thursday announced a merger between Chrysler and Italy's Fiat which he said has "a strong chance of success" as the stricken US auto giant heads into bankruptcy.

autos Updated: Apr 30, 2009 23:38 IST
AFP

President Barack Obama announced Thursday a merger between Chrysler and Italy's Fiat which he said has "a strong chance of success" as the stricken US auto giant heads into bankruptcy.

"Today, I am pleased to announce that Chrysler and Fiat have formed a partnership that has a strong chance of success," Obama said in brief remarks at the White House announcing the deal, which he said will help Chrysler emerge from a swift and "controlled" bankruptcy as a stronger company.

First Published: Apr 30, 2009 23:06 IST