Chrysler has been given approval from the US bankruptcy court to access a $4.5 billion (£3bn) state loan as it secures its planned alliance with Fiat.
Chrysler has filed for Chapter 11 bankruptcy protection and also formed an alliance with Fiat which will see the Italian company take a 20% stake.
Today is Chrysler’s final deadline from the US government to show its final restructuring plans to gain additional funding to allow the company to survive.
Daimler has agreed to give up its 19.9% stake in Chrysler which will see the German brand forgive its outstanding loans owed by the US manufacturer.
Chrysler has moved closer to joining forces with Fiat after it settled some problems with its Canadian workers.
Fiat and Chrysler are fiercely working on an alliance which is liking to come together in the next two weeks.
General Motors and Chrysler were given deadline extensions this week from the US Government to attempt to secure their futures.
General Motors and Chrysler were given deadline extensions today from the US Government to attempt to secure their futures.
Fiat doesn't want to take on any of Chrysler's debt in its agreement to acquire a 35% stake in the US carmaker.
Members of the US Government's auto taskforce met on Friday to review restructuring plans for General Motors and Chrysler.
General Motors and Chrysler have asked the US government for an extra $21.6 billion (£15.2bn) in financial aid, in addition to the $17.4bn (£12.3bn) they have already been given.
General Motors and Chrysler are due to present their viability plans to US politicians this afternoon.
The US Government is considering the possibility of placing Chrysler and General Motors in Chapter 11 bankruptcy protection.
Speculation over Fiat and Chrysler teaming up has ended after the carmakers confirmed they will be working together.
Chrysler, Jeep and Dodge is offering several promotions across its dealer network in the UK this month in order to boost footfall at its showrooms.
Fiat has confirmed that it is in negotiations with Chrysler to form a strategic partnership that could include a Fiat equity stake in the ailing US carmaker.
Top 10 AM100 group Jardine Motors has dropped its three Chrysler sales franchises as one dealership is closed and new car sales cease at two more.
Chrysler is ending production of its PT Cruiser this summer.
Chrysler has shot down claims that the business it about to be broken up.
Reuters reports this morning that Renault has been in talks with Chrysler about a deal to sell the Jeep brand.
