Well, crap. For all of us who were eagerly awaiting the arrival of the Chinese-built Dodge Demon or the Chinese-built Dodge Hornet or the Chrysler-badged, Chinese-built Chery A1, fugetaboutit. It's officially not happening.

Mike Manley, Chrysler's executive vice president of international sales and marketing, tells The Detroit News that talks between the two companies have officially ended. Manley cites economic troubles in both the U.S. and China as the main reason the two have decided to go their separate ways. While Chrysler CEO Robert Nardelli is in D.C. begging for government money, Chery has its own problems in China.

Then again, who knows what might happen after the whole bailout saga has ended? With a cash infusion, Chrysler could restart its partnership with Chery. Or, denied a government loan, Chrysler could find itself bought by the Chinese company.

[Source: The Detroit News]