
Chrysler CEO Bob Nardelli says an additional $3 billion is needed to close its alliance deal with Fiat
Enlarge PhotoIn a letter sent to Chrysler employees late Friday, Nardelli revealed that the company will build a new Durango at its Jefferson Avenue North plant in Detroit alongside the next-generation Jeep Grand Cherokee, which is also due next year. Other new models confirmed to be in development include a redesigned Dodge Charger sedan and a range of all-electric vehicles.
This new Charger, as well as the next 300 sedan, are expected to arrive late next year as 2011 models and should feature only ‘evolutionary’ styling. However, Chrysler's new design chief Ralph Gilles has previously stated that the vehicles would have a "quantum leap in quality."
Nardelli also used the letter to clarify arrangements in Chrysler's proposed alliance with Fiat, reports Automotive News.
"It is important to note that no U.S. taxpayer funds would go to Fiat," the letter said. "The alliance is based on an exchange of equity for assets. Fiat would acquire an equity stake in Chrysler by giving us access to substantially all its vehicle platforms and technologies. This access is of high value to Chrysler, saving us significant costs and years of development time.
Throughout this process we will work with the U.S. government to ensure Chrysler meets all terms of the U.S. Treasury loan agreement, including the submission of a restructuring plan that assures Chrysler's long-term viability, timely loan repayment and energy efficiency."
More from MotorAuthority
-
11/06/2009
Opel Boss Carl-Peter Forster Calls It Quits
Carl-Peter Forster, GM group vice president and president of Opel, will be ...
-
11/06/2009
GM Czar Lutz Heading Back To Europe--To Opel?
GM's sudden decision this week to reverse path and keep Opel rather than ...
-
11/06/2009
Toyota To Put 2010 4Runner Through The Baja 1000 Wringer
Toyota's involvement in motorsports has been a hot topic this week with ...
More from High Gear Media
-
AllSmallCars.com | 11/08/2009
Volt Not To Be a Sub-Brand Of GM
The Chevrolet Volt is probably one of the most anticipated cars to be ...
-
AllCarsElectric.com | 11/08/2009
LG Chem Signs Joint Venture to Supply Hyundai Mobis With Li-ion Batteries
Add another automaker to the supplier list of LG Chem as Hyundai Mobis ...
-
ChallengerBlog.com | 11/08/2009
Petty Dodge Challenger headed to 2010 Barrett-Jackson Auction
The newly formed Petty's Garage behind the legacy of Richard Petty and his ...


Comments (10 total)
Meet the top commenters on the LeaderboardThat has got to be a hard re-design, how do you re-design a car that was called s success
The next set of cars that will jump the shark once DUB gets their hands on it...
How about a diesel for us Chrysler
5.4B in bailout money and Chrysler introduces a redesigned SUV and an over hyped 4 door sedan that barely sales - BRILLIANT waste of money. Thanks for blowing my money on POS products that only amount to junk yard fodder.
The new redesigned SUV will be car based! The Charger and 300 sell very good and were some of the best products at thier introduction. Get your facts strait before you say stupid things!
Article fails to mention anything based on the Charger, which is still a over priced product with a high failure rate. Additionally the re-sale value of their product line is sad. I'll stick to my Toyota Camery/Tundra thank you very much.
aaaaand that second comment by ph1zh just about sums it up. thanks for coming out ph1zh.
clearly chrysler's large vehicles have some value... fiat is getting in bed with chrysler to get their hands on their large vehicle designs.
You mean the Tundra that had all the problems early in production with cracking tailgates and camshafts, the 4 wheel drive axle issues and such? Plus the Charger is being bought up by the police and I see them everywhere, so obviously must be selling pretty decently still, it was popular when it first came out.
Word is that the next gen 300/Charger gets 30+ mpg with the Phoenix engine, so should be interesting, I really want to see if the interior is as good as the 2009 Ram's.
ph1zh for one thing people in the Federal government want the money back, secondly Jeep has been very sucessful for Chrysler, so coming out with a new version of a popular vehicle is a no-brainer.
Post a Comment
Sign In |