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Chrysler Should Receive Government Loans

Chrysler has been worried that they would not be given the federal funding in the form of a loan that they have been seeking since the end of last year. However, good news for the Chrysler auto maker is that news has been released stating that the loans are going through, however, they have not been finalized yet. 

Chrysler was worried that with the new plans put into play by the government in which they are only funding those electrical vehicle plans would mean that Chrysler would not qualify since they are just trying to find a way to produce more fuel efficient vehicles. No plans have been released as of yet if Chrysler would be producing an electric car or not. However, the Energy Department has stated that the auto maker should qualify for the funding, despite these new rules. 

Chrysler is applying for around $3.5 billion in low interest loans from the government in an effort to realign their manufacturing plants to produce more fuel efficient vehicles, in hopes that they will revamp the name of Chrysler and increase the number of sales that they make. 

Chrysler has also been a great brand of US cars, however, in the past years has had to declare bankruptcy just as so many other automakers have done in the time of economic disaster. However, unlike the other auto makers that declared bankruptcy, Chrysler has not been able to bounce back as much as the others. Though, these past few months, they have made great strides in just how much they are appealing to consumers with new vehicles that are more stylish and competitive in the market. 

Chrysler says that receiving these loans are going to be crucial in helping them pay back everything that they owe to the government that they have borrowed in 2009 and onwards since these loans would be used to increase production and research for the auto maker.