Japanese partner of Chrysler cuts back aid

Mitsubishi Motors will continue aid to Chrysler Corporation this month with short-term trade credits, which help the Japanese automaker import about 20,000 vehicles a month to the US. Chrysler, which has a 15 percent stake in Mitsubishi Motors, has asked the firm to increase US imports, but Mitsubishi will hold to present levels until Chrysler is financially sound.

Meanwhile, a group of seven Japanese banks, headed by Mitsubishi Bank, will not re-extend Chrysler credit of $160 million, which was stopped in January after the corporation refused to pay the overdue amount.

You've read  of  free articles. Subscribe to continue.
QR Code to Japanese partner of Chrysler cuts back aid
Read this article in
QR Code to Subscription page
Start your subscription today