Now that we've had a chance to digest the future business plan from Ford, which was sent to Congress this morning, General Motors and Chrysler have followed suit with documents of their own. Unlike Ford, both Chrysler and GM claim that they need money right away just to keep the lights turned on for 2009. As was the case with Ford, both GM and Chrysler have emphasized an increased investment in fuel saving technologies as one of the main reasons the they need federal help. Chrysler is asking for a $7 billion secured working capital bridge loan by December 31, 2008 and GM requires term loans of up to $12 billion to keep the lights on through the end of 2009 with an initial draw of $4 billion in December 2008.
If they get the low-interest, deferred loans that they are looking for, the automakers have promised to introduce new vehicles with advanced technology, including full electrics and hybrids. Chrysler, for instance, says that it will begin selling EVs for fleet use in 2009, with regular customer deliveries scheduled for 2010. We're not sure what it'll be selling, though a variation of one of the three EV concepts it showed off a few months back seems most likely. In any case, the automaker believes it can have 500,000 produced by 2013.
General Motors, for its part, says that it will "launch predominately high mileage, energy-efficient cars and crossovers" in the near-term future. GM also highlights the Chevy Volt that is slated for launch in 2010 and its advanced E-Flex drivetrain, which will in turn go on to power additional models. Also under development are EVs that use hydrogen fuel cells to generate electricity. Take a look over at Autoblog for all the details of Chrysler's and GM's plans. Both automakers seem to by saying that they've done all they can do on their own to fix their problems. Now they need assistance from the Feds to carry them through until the financial markets begin to recover and people start buying cars again. Without immediate help, all of these environmentally-friendly plans will be meaningless.
[Sources: General Motors, Chrysler]