Allpar Forums banner

1 - 2 of 2 Posts

·
Automated System
Joined
·
2,769 Posts
Discussion Starter #1

In the ongoing spat between Tesla and Chrysler Group as to who was the first American automaker to repay government loans, there is only one winner: Chrysler. If the most recent repayment won't satisfy Elon Musk, there is an earlier one that is not open to dispute. In a big New York City ceremony on August 12, 1983, when Elon Musk was 12, Lee Iacocca appeared with a super-sized check for $813,487,500. It represented the final payment on $1.2 billion in federally guaranteed loans. Chrysler repaid its government loans, in full and with all interest due, seven years early. At the time, Chrysler was, as it still is, an American car company.

View the original, full post
 

·
Registered
Joined
·
6,042 Posts
Tesla did repay "Government loans". Chrysler did not repay the goverment. The government only guaranteed payment if Chrysler did not pay. No government funds were used by Chrysler in the 80's.
 
1 - 2 of 2 Posts
Top