Press: Chrysler can make it without Fiat

Chrysler Vice Chairman Jim Press says the company can survive with or without Fiat and intends to present two alternative viability plans to the federal government on February 17.

Company executives did say the alliance is the preferred route and added that discussions with other potential partners have been suspended.

The government has to approve a Chrysler plan in order for the car company to receive the remaining $3 billion from its original request for $7 billion in loans. Press commented “we don’t have to have a partner or Fiat to gain the $3 billion.”

The proposed Chrysler-Fiat alliance has received a generally positive response from the investment community as the best option for survival as it provides much-needed new product that Chrysler may not have the resources to develop on its own.