Under plans currently being formulated by Fiat and Chrysler, the Fiat 500 (top) and Alfa MiTo (bottom) will be manufactured in North America using retooled Chrysler factories.

Chrysler and Fiat will bring seven new vehicles to the US based on four of the Italian car maker's platforms according to Automotive News in a report this week citing sources that have seen the proposed product sharing agreement. The seven vehicles to be built in North America, will include four that will badged under the Chrysler name or its subsidiary brands and three which will be sold denoted by the Fiat or Alfa Romeo brands.

The new cars will be distributed through the Chrysler dealer network, which includes the Dodge and Jeep brands. The Italian carmaker's own branded products destined stateside, which will include the Fiat 500 and Alfa MiTo, will be also retailed through its American partner's showrooms. The product sharing is the key component of the deal between Fiat and Chrysler that will see the former firm taking an initial 35 pct equity stake (with the option to increase this within a year to 55 pct) in exchange for widespread access to its platforms, engines and transmissions, as well as help to penetrate global markets. The non-cash transaction will see the Fiat stake coming our of owner Cerebus' 80.1 pct current holding; Daimler AG, which sold Cerebus its stake, retains the remainder of the share capital.

Once the due diligence procedure, which now underway, is completed the two firms will kick start the platform sharing activities, and diligence is scheduled to be finalised by the end of April. "We're just going through due diligence right now," Chrysler Vice President Jim Press told reporters on the sidelines of the National Automobile Dealers Association's annual convention. Emphasising the lifeline the alliance throws Chrysler, Press added that "it takes three to four years to develop platforms."

The first Fiat branded model proposed to be built in the US will be the Car of the Year award winning 500. According to AN the A-segment 500 will be built at Chrysler's Toluca factory in Mexico which currently assembles its Dodge Journey and PT Cruiser models. The latter model will be discontinued in the summer. The 500 is built on a derivative of Fiat's 'Mini' platform which underpins the A-segment Panda, and this 5-door hatchback is also scheduled to be reskinned and sold with a Chrysler or Dodge badge. Fiat will also supply the American carmaker with its B-segment 'Small' architecture that is used by the Grande Punto. Its platform will be used by both Chrysler and Dodge. The new Alfa MiTo is also built on the 'Small' platform and the coupé will be assembled on the same factory lines that the Chrysler and Dodge models come off. The last platform currently in the frame will be from C-segment, that which will support Alfa Romeo's long overdue replacement for the Alfa 147. C-Evo, a heavily revised version of the Fiat Bravo's platform (which features a slightly lengthened wheelbase, shorter overhangs, new front struts and multilink rear suspension), will also be used by Chrysler and means that a second Alfa Romeo model can be assembled in the US alongside the MiTo with relative ease.