Fiat and Chrysler have released statements confirming that they are to create a 'global strategic alliance', which will involve Fiat taking a whopping 35% stake in Chrysler, in exchange for allowing the troubled American marque access to Fiat's efficiency technologies.
The move seems to suggest that Chrysler (and potentially the rest of the US 'big three') see innovation as the way out of their financial woes. Many analysts have blamed the companies' recent trouble on a lack of investment in new technology and innovation in recent years.
The deal will also mean that the two companies will have access to one another's distribution and supplier networks.
All of this comes in the wake of Fiat's success over the past several years, with cars like the Panda, Grande Punto and the recent 500 managing to rescue the once-troubled brand. But success has brought new demands to Fiat, and they have been seeking a partner with whom to go forward.
This strange marriage wont be finalised until various regulatory authorities have checked that all the boxes have been ticked, but at this time it looks set to go ahead.
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