Chrysler tells Congress sees 2 billion in cost-savings

WASHINGTON (Reuters) - Chrysler Chief Executive Robert Nardelli told Congress on Thursday that the automaker has identified about $4 billion (2 billion pounds) in potential cost savings and improvements.

"We are committed to negotiate with all constituents to achieve our savings targets," Nardelli said in prepared testimony for a Senate Banking Committee hearing. Chrysler is asking the federal government for a $7 billion loan to bridge the financial crisis.

"Chrysler is committed to continue our restructuring, including negotiating cost-saving concessions from all constituents, investing in fuel efficient cars and trucks and beginning repayment of our government loan in 2012," he said.

Nardelli also repeated that Chrysler, privately owned by Cerberus Capital Management CBS.UL, is "aggressively" pursuing alliances, partnerships and consolidations with other companies.