The talks between the Chrysler and some of the lenders broke off yesterday! Chrysler will go into a government sponsored bankrupcy probably on Friday. Apparently, the government had worked out a deal with the largest banks, which they have given billions of loans in support. But, some of the hedge funds were balking at taking a hair cut! Obviously, no one wants to lose money on their investment, but the current situation is dire.
One of the difficulties for Chrysler in the negotiations is that are a number of different parties involved.....Fiat, four major banks, forty hedge funds, the United Auto Workers (UAW) and the Chrysler dealers. Apparently, for this restructuring to work all the parties involved would have to cooperate. Most if not all would have to take a substantial haircut...that is the million dollar question. Apparently, the hedge funds were the creditors that would not accept what they were offered in negotiations.
The Chrysler production plans are to produce Fiat designed vehicles in the U.S. for sale here and abroad. Car & Driver has an excellent flowchart that shows which vehicles will be produced going forward.
My take is that Chrysler will be put into a government sponsored bankruptcy! If Chrysler survives, the government will have saved Chrysler! So here are a couple of the autos that probably be produced!
Chrysler executives said the day is coming when the whole Chrysler fleet has electric powertrains. "The goal is to achieve fundamental technology, get economies of scale, improve our ability to make the future generations more robust, less cost, smaller, more powerful, better performance," according to Bill Press V.P & President. "Ultimately it will lead to a transformation of our entire fleet that will be in some manner electric drive."
One of the difficulties for Chrysler in the negotiations is that are a number of different parties involved.....Fiat, four major banks, forty hedge funds, the United Auto Workers (UAW) and the Chrysler dealers. Apparently, for this restructuring to work all the parties involved would have to cooperate. Most if not all would have to take a substantial haircut...that is the million dollar question. Apparently, the hedge funds were the creditors that would not accept what they were offered in negotiations.
The Chrysler production plans are to produce Fiat designed vehicles in the U.S. for sale here and abroad. Car & Driver has an excellent flowchart that shows which vehicles will be produced going forward.
My take is that Chrysler will be put into a government sponsored bankruptcy! If Chrysler survives, the government will have saved Chrysler! So here are a couple of the autos that probably be produced!
Chrysler executives said the day is coming when the whole Chrysler fleet has electric powertrains. "The goal is to achieve fundamental technology, get economies of scale, improve our ability to make the future generations more robust, less cost, smaller, more powerful, better performance," according to Bill Press V.P & President. "Ultimately it will lead to a transformation of our entire fleet that will be in some manner electric drive."
The Dodge EV development vehicle, also called Dodge Circuit EV sports car, is a two-passenger, rear-wheel-drive, all electric sports car that combines a lithium-ion battery pack with a 200-kilowatt motor, capable of generating 268 horsepower. That's enough to propel the vehicle to 60 miles per hour (mph) in less than 5 seconds and to reach a top speed exceeding 120 mph (190 km/h). This car would be in build in cooperation with Lotus Motors and is almost identical to the Tesla Roadster.
The Dodge Zeo is a concept car, which is a four passenger sport wagon, powered by a single 268 hp. electric motor in coordination with a lithium-ion battery pack. It is a rear wheel drive 2+2 that can go 0-60 in 5.7 seconds. It has an effective range of 250 miles (400 km). between charges.
