Chrysler has decided to withdraw its application for an Advanced Technology Vehicles Manufacturing loan from the Department of Energy.
The company said it remains confident in its strategy to bring competitive, fuel-efficient vehicles and technologies to market on schedule and added that its decision will not impact Chrysler’s ability to achieve its previously announced business plan targets.
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Since it was formed under Fiat management in June 2009, Chrysler Group has performed spectacularly well.
It has announced investments of more than US$4.5bn; added more than 9,400 jobs; repaid US Treasury and Canadian government loans in full, with interest, six years early; launched 16 new or significantly refreshed vehicles in 19 months; including the new C-segment Dodge Dart, which is being built in the US using Fiat architecture and fuel-efficient technology.
On top of all that, last year Chrysler Group US sales increased 26%, the largest percentage sales gain of any full-line manufacturer.
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