Congressman Gary PetersGary Charles PetersSenate confirms Trump’s pick to lead NASA Dem senators call on FCC to protect against robocalls Overnight Finance: Wells Fargo could pay B fine | Dems seek info on loans to Kushner | House to vote on IRS reform bills | Fed vice chair heading before Congress MORE (D), whose Detroit area district is home to Chrysler, said Monday that Chrysler's sale to Fiat will help the company emerge from bankruptcy to compete in the global marketplace.

On Sunday night, a New York federal judge approved the sale of many of Chrysler's assets to Fiat after lengthy hearings.

"Today marks a new chapter in Chrysler's storied history," Peters said in a statement.

Peters also highlighted sacrifices made by Chrysler's employees to help facilitate the bankruptcy process and sale.

"These proceedings were able to move so swiftly because Chrysler, the president's auto task force, autoworkers, majority debt holders and others worked so hard to set much of Chrysler's restructuring in place before bankruptcy was filed," he said.

The Chrysler news comes on the same day that General Motors filed by Chapter 11 bankruptcy and the federal government took major ownership over the auto company.

jeremy.jacobs@thehill.com