Chrysler receives promised $4 billion loan

AUBURN HILLS, Mich., Jan. 3 (UPI) -- Chrysler LLC says it has received the $4 billion that the U.S. Treasury agreed to loan the struggling U.S. automaker in December.

In a statement issued Friday by Chrysler Chairman and CEO Bob Nardelli said he appreciates the Treasury Department's confidence in Chrysler, the Detroit Free Press reported.

"This initial loan will allow the company to continue an orderly restructuring, while pursuing our vision to build the fuel-efficient, high-quality cars and trucks people want to buy, will enjoy driving and will want to buy again," Nardelli said.