Fiat Chrysler seeks $6.8 billion state-backed loan in Italy

MILAN — Italian Prime Minister Giuseppe Conte explained on Saturday that Fiat Chrysler was entitled to utilize for Italy’s point out-backed loans because the automaker employs countless numbers of individuals in the state, even even though its lawful base is situated abroad.

The Italian-American group confirmed on Saturday its Italian device was working with Rome to attain point out ensures on a 6.3-billion-euro ($6.8 billion) financial loan facility made to enable Italy’s automotive marketplace, comprised of around ten,000 tiny and medium-dimensions companies.

The coronavirus outbreak, which has hit Italy specifically hard, slammed the brakes on desire for new vehicles and

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Fiat Chrysler halts output at most European plants

MILAN — Fiat Chrysler is halting manufacturing through March 27 at the greater part of its plants in Europe pursuing the coronavirus disaster which is disrupting the financial system.

FCA said manufacturing for its Fiat and Maserati models would prevent in the subsequent two months at the Italian plants of Melfi, Pomigliano, Cassino, Mirafiori, Grugliasco and Modena.

FCA’s factories in Kragujevac, Serbia, and Tychy, Poland, will also close, the automaker said.

“The short term suspension allows the group to proficiently reply to the interruption in sector desire by ensuring the optimization of offer,” FCA said in a statement.

The

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