P.M. BRIEFING : Chrysler Closer to Mitsubishi

Chrysler Corp. may deepen its relationship with Japanese car maker Mitsubishi now that talks between the nation’s No. 3 car maker and Italy’s Fiat Auto SpA have collapsed, Automotive News said today.

Chrysler and Mitsubishi are likely to increase joint product development and production in the United States and possibly the Far East after Chrysler’s failed bid to strengthen its presence in Europe via Fiat, the weekly industry paper said in its Nov. 12 edition.

The talks between Chrysler and Fiat collapsed Nov. 2, with both sides blaming poor global economic conditions for thwarting a deal.

Chrysler, the only top U.S. car maker without a major presence overseas, has been looking for a way to enter Europe and break its dependence on the North American market.