Chrysler sees no reason its proposed partnership with Fiat will not go ahead, a top executive has said.
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Chrysler vice chairman and president Jim Press told the Wall Street Journal (WSJ) at the New York motor show Chrysler was making daily progress daily on finalising the deal with Fiat and added that the two companies would fit together well.
“Imagine the scope of our product line,” Press said. “We’re going to go from viable to formidable.”
Chrysler has a US government deadline – and funding – expiring on 1 May by which it needs an inked binding agreement with Fiat.
Press said: “We don’t see any reason why it’s not going to happen.”
Chrysler displayed Fiat’s successful retro-look 500 city car in New York alongside a new, more efficient V6 engine line and the redesigned 2011 Jeep Grand Cherokee.
The 500 would compete with the trendy BMW Mini sold in North America, as it does here in Europe.
Press told the WSJ that showcasing the iconic vehicles alongside each other was a sign of how close the two companies are to closing in on a deal.
“It shows our confidence,” he said. “It shows how strong the alliance with Fiat could be.”
Press also said Chrysler Financial could receive more federal funding soon. The independent company not controlled by Chrysler was previously given a US$1.5bn federal loan to help provide loans to vehicle buyers but those funds are expected to run out later this month, the WSJ added, citing “people familiar with the matter”.
Chrysler Financial had last month confirmed it had requested more aid but declined to specify the amount.
