Filed under: Earnings/Financials,Chrysler,Fiat,Peugeot

Italy has approved a decree offering state guarantees for a 6.3-billion euro (£5.7 billion) loan to Fiat Chrysler's (FCA) Italian unit, a source said, paving the way for the largest crisis loan to a European carmaker. The source said Italy's audit court had signed off on the decree, in a final step of what had been a lengthy and contested process to get the loan approved. FCA's Italian division has tapped Rome's COVID-19 emergency financing schemes to secure a state-backed, three-yeaContinue reading Italy reportedly guarantees $7.1 billion loan to Fiat Chrysler

Italy reportedly guarantees $7.1 billion loan to Fiat Chrysler originally appeared on Autoblog on Wed, 24 Jun 2020 08:32:00 EDT. Please see our terms for use of feeds.



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A loan of 7.1 billion is a very large amount of money. I don't know how long it would take me to repay this loan.

 

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A loan of 7.1 billion is a very large amount of money. I don't know how long it would take me to repay this loan. This seems unreal. I can't imagine when I will pay off my mortgage in full. I don't regret taking it, but I want to get this problem out of my head as soon as possible and know that I don't have to return money to anyone. At least the plus point is that Mortgage Broker Manchester offered me a very convenient mortgage at a very low rate. This saved me a lot, and I am very satisfied and grateful.

 

No way, that's a massive loan for Fiat Chrysler's Italian branch! It's been a long ride getting that approval, but it looks like they finally got the green light.

 

Electric vehicles aren't ready for prime time, and carbon credits are nothing more than another 'green scam'...

 

It looks like Italy has given the green light to state guarantees for a whopping 6.3-billion euro loan to Fiat Chrysler's Italian unit. Now, that's a massive boost for the automotive giant and a significant move in the European car industry.

 

This development certainly didn't happen overnight. It's been a lengthy and somewhat contentious process to secure this substantial loan. But with Italy's audit court giving the final approval, it's clear they're committed to supporting the automotive sector, especially in these challenging times.
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