More bad news for emerging energy tech... Automaker Chrysler says it's shutting down its only plant that produces a hybrid gas-electric vehicle. It's brilliant timing; the two models -- hybrid versions of Dodge Durango and Chrysler Aspen SUVs -- only hit the market this month. Then again, It's kind of hard to think of a worse car in this environment than a hybrid SUV. Nobody wants expensive SUVs, and with oil falling, the demand for hybrids has dissipated as well.
Given the sorry state of the industry, it's probably for the best, but remember that $25 billion bailout the auto industry has already received? That money, in the form of low-interest loans, was supposed to go for, yep, production facilities for fuel-efficient cars. So you really have to wonder: If Chrysler is shuttering plants where it builds hybrid vehicles, is it really going to use that money to build these production facilities? Thought so.
(HT: Matt Lehrer)
See also:
Detroit: Give Us Bailout Cash To Help Fund Layoffs
