Article: Chrysler hangs onto its profitable GEM.(News)(Global Electric Motorcars L.L.C.)(Company overview)

Byline: Bradford Wernle

When Daimler and Chrysler divorced last summer, Chrysler kept a small but significant subsidiary.

With gasoline prices soaring and no relief in sight, Chrysler's Global Electric Motorcars could come in handy as appetites grow for alternative-power vehicles. GEM, a wholly owned Chrysler subsidiary in Fargo, N.D., makes low-speed neighborhood electric vehicles, powered by lead acid batteries.

"Gasoline is approaching $4 a gallon,'' says GEM President Rick Kasper. "When we started this venture, it was $1.25.''

Neighborhood electric vehicles are electric vehicles restricted to 25 mph. Federal law permits them to ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!