Chrysler Competitiveness Threatened By Stalled Loan

$3.5 billion loan would be used to help company develop electric and hybrid vehicles.

Published: 12-Jan-2012

AUBURN HILLS -- Chrysler Group LLC risks losing ground against competitors in making hybrid and electric vehicles if it doesn’t receive the U.S. Energy Department loan it applied for, two automotive analysts said.

The agency’s decision on the automaker’s request for a $3.5 billion loan has probably been held up because of a change in ownership that gave Fiat SpA a majority stake last year, said U.S. Senator Debbie Stabenow, a Michigan Democrat who helped set up the loan program.

“We’re continuing to talk,” Energy Secretary Steven Chu told reporters today before touring Chrysler’s display at the North American International Auto Show in Detroit.

<< PREVIOUSNEXT >>
RELATED NEWS ITEMS

2011 Chrysler 300 would be equipped with hybrid option in 2013.

Hybrid variant of 300 would be rolled out in 2013.

Fiat 500 will be offered with electric drive option in 2012

First electric car will be Fiat 500 slated to go on sale in 2012.

Chrysler Ram Truck similar to electric hybrid prototype.

Chrysler’s Ram Truck equipped with Electrovaya's 12 kWh Lithium Ion battery is being showcased at the Washington D.C. Auto Show

READER COMMENTS

blog comments powered by Disqus