Fiat
CEO Sergio Marchionne issued a statement this afternoon to
express his satisfaction after US President Obama indicated
earlier in the day that his administration will support
Chrysler's on-the-table proposal to form an alliance with
Fiat. Marchionne has been the driving force in the dramatic
Italo-American tie-up, seeing industry consolidation as
being necessary to for carmakers to withstand the pressures
of the global economic crisis.
"I
would like to publicly thank President Obama, on behalf of
the entire Fiat management team, for the kind words he used
in referring to our work over the past five years and for
his encouragement to finalise a sound alliance between
Chrysler and Fiat," Marchionne said in a statement issued
this afternoon in Turin. "We are firmly convinced that
Fiat's environmentally conscious technologies and small and
medium car platforms will play a key role in re-establishing
a close rapport for the Chrysler brands with the American
consumer. Our alliance will not only make Chrysler a
stronger company financially, but it will also help preserve
American jobs, significantly accelerate Chrysler's efforts
to produce fuel efficient vehicles, and lead to a more rapid
repayment of U.S. taxpayer dollars."
Marchionne, who has twice appeared before the Presidential
Auto Task Force in Washington in recent weeks concluded the
statement by saying: "The engagement with the President’s
Automotive Task Force has been tough but fair, and we
believe we will arrive at a result that will establish a
credible future for this crucial industrial sector and that
assigns the right priority to the repayment of US taxpayers’
funds. We are delighted that Fiat can play a key role in
this important endeavour."
