Chrysler gets $400m credit line from Mexican government

27.07.2010

Chrysler Group LLC has secured a $400 million line of credit from the Mexican government, enabling it to move ahead with plans to assemble the compact Fiat 500 automobile — which has been for sale across the Americas — at its plant in Toluca.

However, Chrysler, which is under the management control of Fiat SpA of Turin, Italy, has yet to reveal which suppliers it will be working with. A company spokesman noted, however, that under the North American Tree Trade Agreement, 60 percent of the vehicle’s content must come from within the NAFTA region.

“We have not generated any information about the project, apart from what we announced in February,” a Chrysler spokesman in Mexico City said July 22.

In February, Chrysler announced a $550 million investment...
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