Chrysler submits $448 million electric car plan

U.S. automaker Chrysler LLC said on Tuesday it submitted proposals totaling $448 million to the U.S. Department of Energy to research and develop electric vehicles and plug-in hybrid models.

Chrysler and its “partners,” plus the Department of Energy, would pay $224 million each should the proposals be approved and would include an investment of up to $83 million to build a new technology and manufacturing center in Michigan to help develop and assemble these vehicles. That complex should be functional by 2010 and produce more than 20,000 vehicles a year, Chrysler said.
Reuters