Marchionne wants to repay Chrysler loans this year

By Associated Press
Posted Jan. 7 at 1:58 p.m.

Fiat and Chrysler CEO Sergio Marchionne says he wants to pay back the loans Chrysler got from the U.S. and Canadian governments this year if he can.

Marchionne said Friday that he remains committed to that in remarks to reporters while at a Chrysler plant in Brampton, Ontario, where he met with employees to celebrate the production launch of the redesigned 2011 Chrysler 300, Dodge Charger and Dodge Challenger.

He says Chrysler is paying more than $1 billion a year in interest to Canadian and U.S. taxpayers.

Fiat took a 20 percent share in Chrysler LLC in 2009, gaining effective control after the Chrysler emerged from bankruptcy. Fiat SpA expects to boost its Chrysler stake to 35 percent this year in part by repaying the loans.

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