Bankrupt Chrysler to partner with Fiat
01-05-2009
President Obama has announced that the car company Chrysler is applying for bankruptcy so it will be protected from creditors while it restructures.
Mr Obama said it would form a partnership with the Italian manufacturer, Fiat, in an effort to save it from collapse.
He said the process was intended to put one of America's top three car companies back on the path to success.
