Chrysler LLC Statement in
Response to the Announcement by the Administration, U.S.
Treasury and President's Auto Task Force
AUBURN HILLS, Michigan - Today
marks an important milestone for Chrysler LLC. We are encouraged
by the commitments of the Administration, U.S. Treasury and
President's Auto Task Force to the American automobile industry
and Chrysler's viability, with a Fiat alliance.
We are pleased that Chrysler, Fiat
and Cerberus have reached agreement on a global alliance,
supported by the U.S. Treasury. Chrysler has consistently said
that the alliance with Fiat enhances its business model that
expands its global competitiveness. We appreciate the
willingness of the Task Force, along with industry and financial
experts, to consult closely with us in order to achieve this
By providing Chrysler with product
and platforms, technology cooperation and global distribution,
Fiat strengthens Chrysler's ability to create and preserve U.S.
jobs; gives U.S. consumers more choices for environmentally
advanced vehicles; gives its dealers more of the products they
need to be successful; helps stabilize the supplier base; and
allows Chrysler to pay back government loans sooner.
Chrysler has had a series of very
constructive discussions since our plan was submitted February
17, including weekly face-to-face meetings with the Task Force.
We have been impressed by their speed, diligence, good faith and
strong grasp of the difficult issues our industry faces in this
financial crisis. This is evidenced by the U.S. government's
initiatives to support consumer warranties and suppliers, as
well as their appointment of Dr. Edward Montgomery, Director of