With the White House set to announce more financial aid for General Motors and Chrysler on Monday, the Obama administration’s automotive task force met yesterday, and GM chief executive G. Richard Wagoner Jr. visited with officials.
On Thursday, President Obama said that the administration’s aid package would require the companies to make “painful” and “pretty drastic” changes. It is not known how much more financial assistance would be offered or what conditions would be attached.
Separately, Fiat chief executive Sergio Marchionne said Fiat Group’s deal to take a 35 percent share of Chrysler is likely to change, adding that the Italian automaker can help the U.S. company.
Under the nonbinding agreement, Fiat would take a 35 percent stake in the U.S. automaker in exchange for small-car technology, transmissions and other items that Chrysler has valued at up to $10 billion.
