Chrysler submitted its updated viability and progress plan to the Treasury Department yesterday, giving the public its first genuine look at the company's future product portfolio in quite some time.
The image above is a rendering of the 2010 Chrysler 300, which, as Chrysler excitedly states in a starburst, will receive 22 percent better fuel economy than the current 300. The new 300 will have "unprecedented" Uconnect connectivity (though details about this unprecedented uconnectedness are notably absent), along with Rear Cross Path and Blind Spot Monitoring systems, stability and traction control. We're pretty certain (and hopeful) that this is only a rendering, as the vehicle in the image lacks exterior mirrors and an HVAC control system.
Chrysler's plan also includes a product launch timeline to showcase the new vehicles it plans to release up until 2015. The 2010 Dodge Charger and 2010 Jeep Grand Cherokee (which was also rendered in the viability plan) will debut in late 2009 or early 2010, followed by the 2010 Chrysler 300 and 2010 Dodge Durango.
In its plan, Chrysler says it will cut 3,000 jobs and reduce its capacity by 100,000 additional units this year to try to match falling demand. It said it will need an additional $5 billion in government loans by March 31 in order to avoid bankruptcy. Chrysler has already received $4 billion in loans from the Treasury Department.
Chrysler also details an "Orderly Wind Down Scenario" in the document, essentially a dramatic statement of the cost to taxpayers if the Treasury fails to supply the automaker with the loans it has requested. Chrysler says the government risks the collapse of the entire U.S. auto industry if it does not dole out the additional $5 billion to the automaker, with 2 to 3 million jobs lost, and the government taking hits from $65 billion in lost income taxes and $55 billion in lost social security receipts.
President Barack Obama's automotive task force, headed by Treasury Secretary Timothy Geithner and National Economic Council Director Lawrence Summers, is expected to review the documents later in the week.