According to the Detroit Free Press, merger talks with GM are off. Federal loans have them continuing operations, for now.
Chrysler LLC Chief Executive Officer Bob Nardelli said the automaker is not looking for a buyer or a merger partner, and the company is working on getting another $3 billion in loans from the federal government.
The additional loans would be part of the $7 billion that Chrysler told Congress it needs to keep itself in business through 2012.
When asked if the company is looking for an acquisition or a merger, Nardelli said, “We don’t think we need that. There are no merger discussions on the table.”…
…Nardelli stressed that the automaker is looking for alliances, similar to its deal with Volkswagen to build minivans for the German automaker and with Nissan to build a pickup. Nissan plans to build a small car for Chrysler.
“We’re looking for global partnerships where we share to win,” he said.
That’s despite skepticism throughout the industry that Chrysler needs a buyer or merger partner to make it through the year and ultimately to produce the lineup of electric-drive concepts the company featured at the North American International Auto Show on Sunday.