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Filed under: EV/Plug-in, Hybrid, Chrysler, Legislation and Policy, USA



If you have a hate on for automakers that take government money then it may be time to upwardly revise your feelings towards Chrysler. The pentastar brand had originally sought up to $7 billion from the Advanced Technology Vehicles Manufacturing (ATVM) loan program, though since its original request in 2007, it had reduced that amount downward to a more reasonable $3.5 billion. Now, it has withdrawn its application completely.



Apparently, the terms sought by the DOE were too restrictive for Chrysler's needs - something PHEV-maker Fisker is all too familiar with. While we don't think the decision will impact the launch of the company's only announced battery powered vehicle, the Fiat 500 EV, big kahuna Sergio Marchionne is clearly unimpressed with the whole process. Says the Chrysler-Fiat CEO, comparing its position to its Detroit-based competitors,





One blocked DoE funding and the other one was using equity capital, which is probably even a better substitute than DoE funding at a lower rate. So I'm the only guy who is sitting over here that pays back everything with interest and I am sitting over there and I don't want to be favored, I just don't want to be mistreated.

U.S. Representative John Dingell (D-MI) issued a statement that he's disappointed in the situation, saying he, "regret[s] that DoE and Chrysler were not able to come to an agreement that clearly would have benefited American workers and manufacturers." Read the whole thing after the jump.

Continue reading Chrysler withdraws government loan request, calls DOE terms too restrictive

Chrysler withdraws government loan request, calls DOE terms too restrictive originally appeared on AutoblogGreen on Thu, 16 Feb 2012 18:16:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments

Tags: Advanced Technology Vehicles Manufacturing, atvmp, avtm, chrysler, government assistance, government bailout, government loan, Sergio Marchionne

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Chrysler withdraws government loan request, calls DOE terms too restrictive was originally published by AutoblogGreen. Read the full story by clicking here.