Auburn Hills, Michigan – Chrysler, Fiat and Cerberus have reached agreement on a framework of a global alliance, the automaker has announced. The Obama Administration has made a government-approved partnership of Chrysler and Fiat a requirement of its willingness to support the company with US$6 billion in further funding in the face of the economic crisis.

In a statement, Chrysler chairman and CEO Bob Nardelli said that Chrysler has consistently said that the alliance with Fiat enhances its business model that expands its global competitiveness.

“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.”

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