Chrysler still moving ahead with Phoenix V6 engine

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