Thu, May 07, 2009
World > Americas > US auto industry's downfall

Obama says he supports Chrysler's filing for bankruptcy protection

2009-04-30 16:32:28 GMT2009-05-01 00:32:28 (Beijing Time)  Xinhua English

WASHINGTON, April 30 (Xinhua) -- U.S. President Barack Obama said on Thursday that he supports the nation's third largest automaker Chrysler LLC to file for bankruptcy protection, saying he believes Chrysler will emerge quickly from bankruptcy as a stronger, more viable company.

Necessary steps have been taken to give Chrysler, one of America's most storied automakers, "a new lease on life," Obama said during an appearance at the White House.

The president said he believes the bankruptcy filing will put the struggling company back on its feet and that the process for recovery will be relatively fast.

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