Chrysler Group has decided to withdraw its application for an Advanced Technology Vehicle Manufacturing loan from the U.S. Department of Energy (DOE).
Chrysler did not state a reason for withdrawing its application, but it is likely that the company no longer needed financial assistance. The company notes that in 2011, its U.S. sales increased by 26% – the largest percentage sales gain of any full-line manufacturer, according to Chrysler.
The company notes that it had investments of more than $4.5 billion; added more than 9,400 jobs; repaid U.S. Treasury and Canadian government loans in full, with interest, six years early; launched 16 new or significantly refreshed vehicles in its first 19 months; and launched production of the all-new C-segment Dodge Dart, which is being built in the U.S. using a Fiat-based architecture and fuel-efficient technology.
Chrysler says the decision to withdraw its DOE loan application will not impact its ability to achieve its previously announced business-plan targets.