Chrysler hopeful meets criteria for U.S. loans

GENEVA - Chrysler vice-chairman Jim Press said on Tuesday the auto maker was "hopeful" the automaker had all the criteria necessary to receive additional U.S. government loans.

Press, speaking at a round table discussion with reporters at the Geneva motor show, said he has no formal meetings planned with Fiat SpA Chief Executive Sergio Marchionne in Geneva.

Chrysler last month requested $5 billion U.S. government loans to support a turnaround. The automaker plans an alliance with Fiat that would give it access to smaller vehicles while opening the North American market to Fiat.

The deal has not completed.

Press said there was no need for a Geneva meeting with Marchionne as Fiat executives were in Detroit in February at the time that Chrysler filed a viability plan with the U.S. government and they were comfortable with what they saw.

(Agencies)