Controlling shareholder Fiat S.p.A. decides to scrap the Chrysler Group’s electric car program in favor of a more traditional organization. This turnaround plan has already disbanded a team of engineers dedicated to produce a range of electric vehicles to showrooms.
Moreover, sales targets for battery-powered cars set have been dropped as the carmaker was deemed to be sliding toward bankruptcy and seeking government aid. The electric car program was used by Chrysler to get the $12.5 billion federal aid package. Last August, Chrysler even took $70 million in grants from the U.S. Department of Energy to develop a test fleet of 220 hybrid pickup trucks and minivans.
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