Chrysler says it can meet new CAFE standards

Chrysler LLC is readily welcoming thew new CAFE standards with open arms. When it happens of course.

"We will" cooperate rather than fight the anticipated increase in the Corporate Average Fuel Economy, or CAFE, standard," Chrysler CEO Bob Nardelli told Wednesday. "We'll have to obviously accelerate significantly our investment in technology to get there," said Nardelli.

Some of the technology being used is a new two mode hybrid system that was jointly developed and engineered by BMW, General Motors, and Daimler. Chrysler's former German parent company.

Chrysler is looking to recent help from the United Auto Workers(UAW) and their agreement to take over Chryslers heft healthcare costs. This helped to free up a large amount of cash. This will allow for Chrysler to invest $500 million dollars in product development.

Source. The Car Connection.