A US senator has told the new president Chrysler should repay the recent federal loan it received recently if Fiat takes a majority stake.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Robert Menendez, a Democrat from New Jersey, and a member of the senate banking committee, said in a letter to president Barack Obama that Chrysler chairman and chief executive Robert Nardelli had previously assured him he would support such a requirement if a merger with a foreign auto maker was to take place, Dow Jones reported.
“I am sure you would agree that the responsible action is to ensure that American taxpayers are not financing foreign automakers,” Menendez wrote.
Chrysler has already received a US$4bn loan through the US treasury’s Troubled Asset Relief Programme (TARP).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
