Chrysler Withdraws DOE Vehicle Manufacturing Loan Application

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.

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