Chrysler LLC has joined the push to bring elecric vehicles to the market. The U.S. carmaker is planning to introduce all-electric vehicles in three to five years, according to a Reuters Report.
The carmaker, which was bought by private equity group, Cerberus Capital Management in August 2008, created an engineering group for electric vehicles the following month. The new "Envi" unit is developing vehicles that can run on battery power alone for 40 miles, Chrysler spokesman Nick Cappa said.
The vehicles will use lithium-ion batteries, though no announcement was made as to who would produce the batteries.
Chrysler exhibited three all electric concept cars in January during the Detroit auto show– the ecoVoyager, Dodge ZEO and Jeep Renegade.
"Chrysler will produce technology similar to one of them or a combination of the three," Cappa said.
The company will try to cut into Toyota’s domination of the hybrid market. Toyota, which expects to be selling over 1 million hybrid vehicles annually by early next decade, announced last week that it will begin manufacturing its popular Prius hybrid in the U.S.
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