US, German Carmakers Spend $1 Billion on Advanced Hybrid-Electric Tranmission

The first models using technology developed for the hybrids will be versions of GM's Yukon and Tahoe sport-utility vehicles, due in 2007.

Published: 12-Aug-2006

Aug. 10 (Bloomberg) -- General Motors Corp., DaimlerChrysler AG and Bayerische Motoren Werke AG are investing more than $1 billion combined on a shared gasoline-electric system for autos that will compete with hybrid segment leader Toyota Motor Corp.

The first models using technology developed for the hybrids will be versions of GM's Yukon and Tahoe sport-utility vehicles, due in 2007, said Larry Nitz, head of GM's hybrid program. Chrysler, DaimlerChrysler's U.S. unit, will sell a hybrid Durango SUV in 2008, followed by BMW models within three to five years, the companies said.

"There are multiple hybrid systems under development together," Nitz said at the dinner. "It's a family of products."

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