egmCarTech

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

Related Posts:

1. Chrysler, Hyundai and Mitsubishi end engine manufacturing alliance
2. BREAKING: Porsche CEO resigns, company moving ahead with VW merger
3. Miscellaneous Thoughts: Auto industry look-a-likes, Rhys Millen drifts Genesis sedan, 2011 Jeep Phoenix?
4. BMW is moving ahead with the Progressive Activity Sedan
5. 2010 Jeep Grand Cherokee to get new Phoenix V6 engine