The mainland's top antitrust authorities defended a recent crackdown on price-fixing at a rare joint press conference in Beijing yesterday, denying foreign firms were being unfairly targeted.
Chrysler is an American carmaker that has been majority-owned by Fiat, since 2009. First organised as Chrysler Corporation in 1925, its core brands are Chrysler, Jeep, Dodge, Ram, SRT, Fiat, and Mopar vehicles and products. Between 1998 and 2007 Chrysler was owned by Daimler, but the union was not successful, and in August 2007, DaimlerChrysler sold Chrysler Group to Cerberus Capital Management. Both Chrysler and its competitor, General Motors, needed government rescues during the global financial crisis, with only Ford managing to survive without government handouts. In June 2009, Chrysler emerged from its government backed Chapter 11 reorganisation as Chrysler Group, in alliance with Fiat, which initially held 20 per cent of Chrysler, but has subsequently increased its stake.