Calling all suitors talks in the media ‘all speculation’ Chrysler’s Jim Press said that the company is moving ahead with investment in the more fuel-efficient V6 engine codenamed Phoenix. Chrysler has been working on the V6 engine since 2007 and has planned to invest about $3 billion in the program.

“The Phoenix engine program is going forward full steam,” Jim Press told reporters this morning. “It’s a great engine. We’re driving the prototypes today.”

Speculations had started earlier this month when reports of a merger with GM that the Phoenix V6 engine would be put on hold. Press said: “There’s not a lot of reason to talk about mergers and things like that because it’s all speculation.”

Source: Reuters