Chrysler Group sells Global Electric Motors to Polaris Industries
The announcement has not come with any terms but according to Chrysler, both the automaker and Polaris have signed an Asset Purchase Agreement with closing to take place in roughly 60 days. Chrysler has been in control of GEM since 2000 when the company then known as DamilerChrysler purchased the electric vehicle company from the North Dakota-based investment group overseeing the GEM brand.
For those unfamiliar with the GEM brand lineup, these vehicles belong to the “Neighborhood Electric Vehicles” segment which permits them to drive on public roads that have a speed limit lower than 35mph. The GEM lineup has a top speed of 25mph with a single-charge range of roughly 30 miles and at the expense of seeming critical – GEM cars are little more than high end golf carts with safety items like headlights and safety belts.
The GEM models are predominantly plastic and their most common uses in the United States are serving as campus or event security, as they allow the driver to navigate tight areas while also traveling on low-speed public roads. As GEM has grown, they have expanded their operations to offer much larger vehicles – with as many as three rows of seating – so they are showing up as people movers around the country. While GEM is certainly not the pride and joy of the Chrysler Group, the electric manufacturer helped Chrysler to conform to zero-emission vehicle (ZEV) activities around the country but with their new partnership with Fiat, Chrysler plans to generate new ZEV in the line of full-function electric vehicles.
In the past few years, Chrysler has shown off a handful of electric vehicles like the Dodge EV sports car, an electric Grand Caravan and an electric concept sedan that lent its look and name (but not its electric drivetrain) to the 2011 Chrysler 200. These may not by the zero-emission vehicles that reach dealerships around the country but they display that the Chevy Volt and the Ford Focus Electric have not been the only electric vehicles in works from US automakers over the past few years.
Other Chrysler News:
The 2012 Chrysler 300 S introduces America to the 8-speed transmission
The 2012 Chrysler 300C Executive Series redefines American luxury
The 2012 Jeep Grand Cherokee SRT8 debuts in NYC
The 2012 Chrysler 300 SRT8 debuts in New York
The 2011 Chrysler 200 S sedan and convertible debut at the NYIAS
Chrysler confirms 2013 Dodge Viper coming in 2012