AUBURN HILLS, MI — According to reports, Chrysler Corp. President Dieter Zetsche says that DaimlerChrysler AG would be completing talks with the President of General Motors on plans to co-develop a two-mode hybrid propulsion system for their vehicles this year. The two companies are not only planning to develop the two-mode hybrid system together, but also develop the components jointly as well. The results are expected to be seen in the market by late-2007 or early-2008. Zetsche said that both the companies want to go all out with the plans to develop the components and the crucial two-mode hybrid system together as soon as possible. The developed technology is expected to be seen on the cars from the stables of General Motors, Chrysler, and Mercedes-Benz. The variants planned are rear-and front-wheel-drive versions for cars, trucks, and other vehicles.

Originally posted on Fleet Financials