But Press, who came to Chrysler last year after introducing the popular Prius hybrid to the U.S. market while at Toyota Motor Corp (7203.T: Quote, Profile, Research), said higher fuel standards and alternative fuels are here to stay.
"Not just us. You will see electric drive and hybrid technology in virtually everything. Eventually, every car will be a hybrid at some point," Press said.
Chrysler showed off three "green" concept vehicles at the North American International Auto Show in Detroit last week, including an electric model. The company is also researching diesel-hybrids and hydrogen fuel cells. "All those technologies will be deployed at different levels by each manufacturer," Press said.
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UPDATE 2-Chrysler executive says fuels key to success | Reuters
The response, industry experts said, will take billions in research funding and more money to retool plants, develop fuel distribution networks, train workers and market new vehicles. The industry also expects government help. This could come in the form of tax breaks, research grants and credits for low interest loans.
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