Klaus Busse, Director – Advanced Interiors and Component; Cecile Giroux, Program Design Manager – Advanced Interiors and Ryan Patrick Joyce, Lead Designer – Chrysler 200C EV concept talk about the all-new Chrysler 200C EV concept
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Detroit, Jan 11, 2009 – With its rapidly growing portfolio of ENVI-powered electric vehicles, Chrysler LLC is inspiring a personal mobility revolution, creating a new generation of responsible, no-compromise Chrysler, Dodge and Jeep® vehicles for consumers who care about the planet’s future and want to take care of it.
Chrysler recently introduced three advanced electric-vehicle prototypes, while expressing its intention to broaden its all-electric and Range-extended Electric Vehicle portfolio across its vehicle lineup.
At the 2009 North American International Auto Show in Detroit, the Company unveiled updated versions of those vehicles – along with two new electric vehicles – reinforcing a commitment to developing and bringing to market a broad array of advanced electric vehicles for the Chrysler, Jeep and Dodge brands.
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By Cor Steenstra with photography by Chris Jones
We have finally had a chance to drive the Dodge Challenger, in a V6 2009 guise, so we will be reporting to you about this, plus, we will show you dynamic footage of the Challenger SRT10 Concept.
In the 60′s Ford introduced the Mustang as the first of the “pony car” category, and subsequently competitors followed, and of course the pony cars grew in size and power and became the muscle cars at the end of the 60′s. Where the current Ford Mustang harks back to its Pony Car origins, the Dodge Challenger and the soon to come Chevrolet Camaro lean more towards the muscle car era.
The Challenger takes its design clues from it 60′s predecessor and is based on the excellent chassis Chrysler has been using heavily for its 300 and Dodge Charger variations, originating from its Daimler/Mercedes days. It is a good and solid chassis and as such provides solid underpinnings for this. Of course we all know there is the spectacular Hemi powered version, especially the SRT8, but with the fuel prices over the past half year and the economy in the slumb it is, we were kind of interested to see what value the V6 version would bring.
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To Chrysler employees and other stakeholders:
We have received news that U.S. Treasury Secretary Henry Paulson will provide $4 billion of initial funding to Chrysler LLC from the TARP (Troubled Assets Relief Program) as a loan to help bridge the current financial crisis. We appreciate the Administration’s confidence in Chrysler.
As outlined in our submission to Congress, we intend to be accountable for this loan, including meeting the specific requirements set forth by the government, and will continue to implement our plan for long-term viability. The receipt of this loan means Chrysler can continue to pursue its vision to build the fuel-efficient, high-quality cars and trucks people want to buy, will enjoy driving and will want to buy again.
For Chrysler to succeed in its mission to return to profitability, we need the continued support of our many business partners. Terms associated with the bridge loan include Chrysler’s commitment to work with key constituents – including our owners, lenders, suppliers, dealers, management and employees – to identify and achieve the cost-savings concessions we need to build a long-term viable enterprise. These concessions discussions will happen quickly, as a full governmental review and approval of our plan is expected by March 31, 2009.
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WASHINGTON (Reuters) – The government will offer up to $17.4 billion in loans to the ailing U.S. automakers and expects General Motors and Chrysler LLC to access the money immediately, a senior administration official said on Friday. Some $13.4 billion will be made available in December and January from the $700 billion fund that was originally designed to rescue struggling financial institutions, but the loans would be called back if the automakers cannot prove they are viable by March 31, the official said.
Viability would mean that the companies must have a positive net present value, which doesn’t necessarily mean immediate profitability but would require them to reach that point relatively soon, the official said. The three-year loans would require limits on executive compensation and other perks, and the automakers would also have to provide warrants for non-voting stocks.
The remaining $4 billion in aid is contingent on the administration seeking access to the second half of the $700 billion financial rescue plan, known as the Troubled Asset Relief Program, the official said.
(Reporting by Jeremy Pelofsky and Tabassum Zakaria, editing by Eric Beech and Frances Kerry)
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NEW YORK (Reuters) – General Motors Corp has not reopened merger talks with Chrysler LLC, a GM spokesman said on Thursday, denying a report in The Wall Street Journal that talks had been revived. “We have had no talks with them since we announced during our third-quarter earnings call that the talks had been suspended,” GM spokesman Tony Cervone said.
Representatives for Chrysler and Cerberus Capital Management, which owns an 80 percent stake in Chrysler, did not return calls seeking comment on the Journal report. GM and Cerberus suspended talks in late October. GM had pushed for up to $10 billion in U.S. government aid to support an acquisition of Chrysler, according to sources with knowledge of the talks. The discussions were dropped when no financing was immediately available.
The Bush administration is considering using funds from the $700 billion financial industry rescue to bail out the Big Three U.S. automakers. A proposed $14 billion bailout collapsed in Congress in the face of opposition from Senate Republicans. Analysts have said GM and Chrysler could face bankruptcy without quick help. GM has said it needs at least $4 billion by the end of December. The chief executives of GM and Chrysler told the Senate Banking Committee during hearings for financial aid earlier this month that they would consider restarting merger talks if needed.
(Reporting by Jui Chakravorty Das; editing by John Wallace)
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Due to the continued lack of consumer credit for the American car buyer and the resulting dramatic impact it has had on overall industry sales in the United States, Chrysler LLC announced that it will make significant adjustments to the production schedules of its manufacturing operations. In doing so, the Company will keep production and dealer inventory aligned with U.S. market demand. In response, the Company confirmed that all Chrysler manufacturing operations will be idled at the end of the shift Friday, Dec. 19, and impacted employees will not return to work any sooner than Monday, Jan. 19, 2009.
Chrysler dealers confirmed to the Company at a recent meeting at its headquarters, that they have many willing buyers for Chrysler, Jeep® and Dodge vehicles but are unable to close the deals, due to lack of financing. The dealers have stated that they have lost an estimated 20 to 25 percent of their volume because of this credit situation.
The Company will continue to monitor the production schedules of its manufacturing operations moving forward.
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By John Crawley and Thomas Ferraro
WASHINGTON (Reuters) – Prospects for an auto industry bailout revived in the U.S. Senate on Thursday as surprise negotiations on a compromise moved forward and a vote was possible later in the day. Senate Majority Leader Harry Reid said on the Senate floor that the deal, if struck, “would overwhelmingly pass” the chamber that just hours ago seemed resigned to sending the automakers back to Detroit empty-handed. The scenario at the core of the possible compromise was proposed by Sen. Bob Corker, a Tennessee Republican, who would grant loans under stricter conditions than favored by Democrats and the White House.
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By John Crawley and Thomas Ferraro
WASHINGTON (Reuters) – The U.S. House of Representatives could vote as early as Wednesday on a $15 billion plan to bail out and restructure U.S. automakers but the initiative may face Republican roadblocks in the Senate. The White House and congressional Democrats sought to quickly finalize an agreement in principle struck Tuesday night on conditions for providing $15 billion in low-interest loans to avert a threatened industry collapse if one or more of “The Big Three” U.S. automakers were to fail. But some issues remained unresolved, apparently including a Democratic demand that automakers drop lawsuits against states seeking to reduce tailpipe pollution.
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By Thomas Ferraro and John Crawley
WASHINGTON (Reuters) – The White House and Democrats edged toward agreement on Monday to rescue U.S. automakers by extending emergency loans but their plan leaves key restructuring decisions to the incoming Obama administration.
Three days of talks between congressional Democrats and Bush administration officials neared conclusion with a draft bill, obtained by Reuters, outlining temporary low interest loans, terms for repayment and oversight submitted for final White House review.
The final figure was still being worked out with the plan worth between $14 billion and $17 billion. The rescue aims to avert the threatened collapse of General Motors Corp and Chrysler LLC, saving thousands of factory and millions of related jobs in the U.S. recession.
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