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Chrysler to join Shanghai auto show despite crisis

(Agencies)
Updated: 2009-04-14 09:49

Chrysler LLC still plans to join the Shanghai auto show next month despite the financial difficulties it is facing in the domestic market.

A spokesman of Chrysler Asia/Pacific Operations said that Chrysler has no plan to quit the Chinese market and will continue to join the Shanghai auto show although on a tight budget. Previous reports said Chrysler will introduce to China three imported models to China this year to lure Chinese customers.

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Chrysler has been given 30 days by US President Barack Obama's Task Force to finalize details of partnership with Fiat before it can be allocated another multibillion-dollar loan from the government to keep it out of bankruptcy.

It has reached a preliminary agreement in January with Fiat, under which Fiat was to get a 35 percent stake in Chrysler in return for letting Chrysler build small cars using a number of its small car platforms and fuel efficient engines.

Chrysler LLC Chairman and CEO, Bob Nardelli said in a statement on Monday that he would personally assure that "Chrysler will operate 'business as usual' over the next 30 days, and the company is committed to working closely with Fiat, the Administration, US Treasury and the Task Force to secure the support of necessary stakeholders."