BBC News reports that Sergio Marchionne, the boss of Italian carmaker Fiat, has threatened to walk away from an alliance with US carmaker Chrysler if unions do not make concessions. “Absolutely we are prepared to walk. There is no doubt in my mind,” Marchionne warned.
Chrysler needs to find a partner in order to secure more government funds to help it survive. It reached an agreement with Fiat in January. The US carmaker has until 30 April to finalise a partnership deal. Otherwise, the carmaker may not receive any further assistance from the US administration. Without the funds, the carmaker could go under. Full story…
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