MILAN/DETROIT (Reuters) – Italy's Fiat said on Tuesday it would be given a 35 percent stake in struggling U.S. automaker Chrysler LLC in exchange for access to technology and overseas markets in a deal underscoring the huge stress on the global auto industry.
Under the terms of the deal, Fiat would not pay cash for its stake in Chrysler, which has already been given $4 billion in emergency funding from the U.S. government.
Instead, Fiat would provide the U.S. automaker with access to fuel-efficient vehicle platforms and components and to sales outside the United States where Chrysler is largely absent.
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Sooooo, my dream of owning a Fiat 500 in the states is not lost yet. Hopefully they will see the light at the end of the tunnel and move towards it quickly. If you want to read the entire article
http://news.yahoo.com/s/nm/20090120/..._chrysler_fiat
01-20-2009, 05:11 PM
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