Chrysler, Fiat Developing Electric Car

Auto makers Chrysler Group LLC and Fiat SpA are working together on developing an electric car, a Chrysler board member confirmed Thursday. Alfredo Altavilla said the development process is "going very well" with Chrysler contributing its electric propulsion technology to the alliance. Mr. Altavilla made the comments at the opening of a gearbox plant in Verrone.

This is the first time a Chrysler or Fiat executive has publicly confirmed Chrysler's electrification plans since Fiat Chief Executive Sergio Marchionne took control of Chrysler's assets in June after the U.S.-based company filed for bankruptcy protection.

Mr. Marchionne is set to present details of his five-year survival plan for Chrysler on Nov. 4. How the electric car will fit in the plan will likely be explained during the briefing. Mr. Marchionne will also talk about the realignment of the U.S. car maker's brands and new product plans.

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