Chrysler to receive Energy Dept. loans
6/22/2011AUBURN HILLS, Mich. — Chrysler Group LLC, the U.S. automaker controlled by Fiat SpA, is close to receiving loans from the U.S. Department of Energy, U.S. Representative Gary Peters said. Chrysler’s repayment of $5.9 billion in U.S. government loans last month helps the effort, he said.
Sergio Marchionne, chief executive officer of both Chrysler and Fiat, said in April that the U.S. automaker would likely be able to obtain as much as $3.5 billion in low-interest loans for development of fuel-efficient vehicles.