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Statement regarding the Sale of Global Electric Motorcars, LLC (GEM) to Polaris Industries, Inc.

April 26, 2011 , Auburn Hills, Mich. -



Chrysler Group has decided to focus its energies on its core automotive business, which has led to the sale of substantially all of the assets of GEM and NEV to Polaris Industries, Inc. Chrysler Group and Polaris have signed the negotiated Asset Purchase Agreement. Closing is expected in approximately 60 days.

Chrysler Group is continuously evaluating strategic requirements in the rapidly changing regulatory environment for alternative propulsion vehicles. GEM has contributed significantly to Chrysler's ongoing Zero Emissions Vehicle (ZEV) compliance activities in California and the other Mandate States. Chrysler will pursue a range of other ZEV options moving forward, focusing on full-function EVs.
 
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