(24/7 News) -- Chrysler officials are looking to take the company public.
The company has filed initial paperwork for an IPO. Chrysler recently halted production of the 2014 Jeep Cherokee and laid off 500 workers in Toledo.
Rumors of the IPO have been circulating for weeks. Italian automaker Fiat holds a majority stake in the company. Fiat and Chrysler CEO Sergio Marchionne has expressed interest in merging the two companies.