History of Chrysler GMAC for Chrysler, potentially merging two of Detroit's "Big Three" automakers. These talks did not come to fruition, and were discontinued the next month. On October 24, 2008, Chrysler announced a 25% cut (5,000 jobs) in its salaried and contract workforce in November 2008. Michigan Gov. Jennifer Granholm announced that she, along with 5 other governors, sent a letter to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke requesting emergency funding for the Detroit Big Three Automakers. On the same day, General Motors asked the Treasury Department of the United States for $10 billion to help restructure both
General Motors Precept General Motors Precept The General Motors Precept was a 2000 low emission vehicle concept car aimed at meeting the fuel economy goal of the Partnership for a New Generation of Vehicles between the US Government and GM, Ford, and Chrysler. GM was able to meet the fuel economy goal with the Precept, creating versions using Lithium and NiMH batteries with diesel, fuel cell and other hybrid version of the car. GM ended the project in 2000, claiming no one would be interested in buying a high fuel economy vehicle. The near-term PNGV program, introduced during the Clinton Administration, was terminated