Chrysler gives up bid for federal green car loans

Chrysler today said it is withdrawing its application for a loan from the U.S. Department of Energy that it had been seeking since 2008. It had applied for a loan under a program designed to encourage development of hybrids and electric vehicles.

Ford received $5.9 billion and Nissan received $1.4 billion in loans from the program in 2009.

General Motors, in contrast, withdrew its $14 billion application in January 2011. Russian steelmaker Severstal's $730 million loan, which received conditional approval last year, was rejected last month.

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