Fiat Chrysler Automobiles said Tuesday it had drawn down on a 6.25 billion euro ($6.8 billion) credit line to buffer its cash reserves during the uncertainty around the coronavirus health crisis.
The funds from the revolving credit facility, originally signed in June 2015, add to the 1.5 billion euros ($1.6 billion) FCA has drawn down from other credit lines.
The outbreak has pummeled vehicle sales and production for automakers across the world, forcing many to take out multi-billion dollar loans to ride out what is likely to be a deep global recession.
