After talks fell through with General Motors and Renault/Nissan, Chrysler has found a likely partner to successfully move forward into the future. Italian-based automaker, Fiat S.p.A., and Chrysler LLC have confirmed that a non-binding agreement was signed that would give Chrysler access to Fiat’s smaller, fuel-efficient vehicle platforms in return for Fiat acquiring an initial 35 percent equity share in Chrysler. Fiat has the option to increase its share of Chrysler to as much as 55 percent at a later date. Both companies would also gain strategic access to the other’s distribution network. The alliance will ultimately provide “substantial cost saving opportunities” to both automakers.