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Fiat vows to stand by Chrysler

China Daily | Updated: 2009-06-10 08:13

MILAN/WASHINGTON: Italian automaker Fiat SpA will not walk away from its deal to buy bankrupt Chrysler LLC, a spokesman said yesterday after the US Supreme Court order put the deal in doubt.

Both Chrysler and the Obama administration have said a long delay could kill the deal and result in Chrysler's liquidation. Fiat can abandon the deal if it does not close by June 15.

Taking over Chrysler is a big part of Chief Executive Sergio Marchionne's ambitious goal of vaulting Fiat, Europe's number-six automaker by unit sales, into the top ranks of world car makers.

Fiat vows to stand by Chrysler

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