Chrysler needs $448 million, and they just might get it.
Today, U.S. automaker Chrysler LLC submitted proposals nearing $448 million to the U.S. Department of Energy for research and development of electric vehicles and plug-in hybrids. Today, U.S. automaker Chrysler LLC submitted proposals nearing $448 million to the U.S. Department of Energy for research and development of electric vehicles and plug-in hybrids. Good timing, huh? Operating in bankruptcy since April 30th, it seems rather convenient for Chrysler to propose this agreement on the eve of a judges ruling to the sell of assets to a U.S. and Canadian owned company. Chrysler, it’s partners, and the Department of Energy, would pay $224 million each upon approval of the proposals If approved, the proposal would include an investment of close to 83 million to build a technology and manufacturing center in Michigan to assist in the development of the new technologies and vehicles. It is reported that the complex should be up and running by 2010 and produce more than 20,000 vehicles a year, Chrysler said.
