A few days ago it was rumored that Chrysler had stopped development of its upcoming Phoenix V6 engine further fueling rumors that a Chrysler merger was eminent.
Although its still a big possibility that Chrysler may merge with GM or Renault/ Nissan, Chrysler claims that the engine is still being developed. According to Jim Press, Chrysler is still moving ahead with the fuel-efficient V-6 engine program.
“The Phoenix engine program is going forward full steam,” Chrysler President Jim Press told reporters. “It’s a great engine. We’re driving the prototypes today.”
Chrysler announced plans to invest approximately $3 billion to build the new engine, codenamed Phoenix in 2007.
Full Story: Reuters
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