Chrysler Wants Loan For EV Development
This may just be a classic case of too little, too late. Chrysler has recently filed a load request with the Department of Energy for the proposed construction of a new vehicle plant in Michigan that will be used to manufacture electric vehicles and plug-in hybrid vehicles. The company also wants money to develop these vehicles. The total plan will cost $448 million.
And what will Chrysler come up with using that money? According to the filing, they will create a Dodge Ram pickup truck plug-in hybrid, a Town & Country minivan plug-in hybrid, and a Town & Country electric vehicle. The filing states that Chrysler and their partners (who exactly those partners are isn’t specified) would cover $224 million, and they’re looking for the Department of Energy to float a loan for the rest. Considering that the company is in the middle of a bankruptcy hearing, they don’t seem to be the wisest choice for a $224 million cash infusion.City of God move
