USA Today reports:
If you believed all the talk from Chrysler about how our tax dollars would help finance its fast-track electric-vehicle future, you’re in for a big disappointment.
Chrysler has disbanded the engineering team that was trying to bring three electric models to market as a rush job, Automotive News reports today. Chrysler cited its devotion to electric vehicles as one of the key reasons why the Obama administration and Congress needed to give it $12.5 billion in bailout money, the News points out.
If you take the money that Chrysler invested in electric car make-believe development and weigh it against the billions it got from the government, Chrysler made a handsome profit on the venture. That’s pretty much the only profit that Chrysler has made recently.
(Via Asymmetric Information, via Instapundit.)
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