Chrysler is seeking Government aid, but at the same time has kept its hopes up these past few days, as it presented its viability plan. Details about an alliance with the Italian counterpart are vaguely included in the report, yet no reference is made to the possibility of a merger.
Bob Corker is preoccupied with the way Chrysler will return the loans they have already received. "What is it that can happen out there that creates the highest probability they can pay back?" Corker was quoted as saying by the aforementioned source. "If the merger with Fiat is it, maybe that's something we ought to consider."
The alliance between the two companies, as it was called only weeks ago, would give Fiat a 35 percent stake in the American company. Chrysler said it will pursuit this objective for as long as it proves viable, but they never talked about merger.
Another bailout critic, Senator Richard Shelby of Alabama said that Chrysler alongside GM presented their reports without taking concrete steps to solve their business problems.
"GM and Chrysler hope to rely on additional taxpayer funding to avoid bankruptcy," he added.
Chrysler hopes to have completed all the details of their partnership with Fiat by the end of March. By then, the agreements with United Auto Workers and creditors should be finalized.
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