Wednesday, June 10, 2009

Chrysler Group LLC "Will Begin Operations Immediately"

And they're off.

Chrysler Group LLC and Fiat Group announced the finalization Wednesday of their previously announced global strategic alliance.

The new Chrysler will begin operations immediately. As part of the alliance, Fiat will contribute to Chrysler its world-class technology, platforms and powertrains for small- and medium-sized cars, allowing the company to offer an expanded product line including environmentally friendly vehicles increasingly in demand by consumers.

"This is a very significant day, not only for Chrysler and its dedicated employees, who have persevered through a great deal of uncertainty during the past year, but for the global automotive industry as a whole," said Sergio Marchionne, who today was named Chief Executive Officer of Chrysler Group LLC.
Last anyone knew, production was scheduled to start again by the end of the month.

One down, one to go...