Chrysler plans to temporarily shutdown most plants until Fiat deal closes

Chrysler to idle plants until Fiat deal done

NEW YORK — Chrysler says it will temporarily stop most of its vehicle production until its deal with Italy’s Fiat is complete.

The shutdown is effective Monday and could last up to two months.

Auburn Hills, Mich.-based Chrysler LLC says it expects the shutdown to last between 30 and 60 days and then resume with normal production schedules once the agreement is completed.

Fiat Group SpA will get a 20 percent stake in Chrysler in return for giving Chrysler access to its fuel-efficient technology.

Fiat has committed to building Fiat cars in Chrysler factories, to be sold as Chryslers.