Chrysler seeks US$7 billion loan
Chrysler, which is currently asking for US$7 billion in federal loans in the US, is also looking at a comprehensive restructuring plan, which essentially includes a lot of electric vehicles. The company, which expects to have only around US$2.5 billion in its cash reserves by the end of this year, is looking at expenses of more than US$11 billion in the first quarter of 2009.
If it gets the aid it’s asking for, Chrysler will be looking at launching various kinds of electric and hybrid vehicles, which it categorises into neighbourhood electric vehicles, city electric vehicles, range-extended electric vehicles and full-function battery-powered electric vehicles. According to the company, its product plan includes the introduction of its first full function electric car in 2010, and additional models by 2013.
[Via: indiaautomotive]
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