A US senator has told the new president Chrysler should repay the recent federal loan it received recently if Fiat takes a majority stake.


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).

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.