GEM Peapod

The EVs announced on Tuesday are not the only electric cars being announced by Chrysler this week.  General Electric Motors (G.E.M.), a Chrysler subsidiary has been making smaller electric vehicles for almost a decade now.

Though the Chrysler EV, Dodge EV, and Jeep EV stole the limelight the new offering from G.E.M. deserves some consideration.  On the same day that reporters were so eager to drive one of the EVs G.E.M. announced the Peapod.  A smaller electric vehicle meant for driving around in neighborhoods only.

If the Peapod looks like a golf cart on steroids it’s because the Peapod is not much bigger (or that much more powerful) than one.  The Peapod has a range of 30 miles and a top speed of 25 miles per hour.  Making it safe to drive on neighborhood streets but no suitable for faster roads.  It uses regenerative breaking to extend the range and can be plugged into any 110 volt outlet.  Charging while plugged in takes 6-8 hours.

The Peapod is meant to be as user friendly as possible.  The new center console offers iPod integration as well as hands free use of the users iPhone.

“We have evolved the GEM design language to better reflect its eco-friendly performance and its upbeat, positive image,” said Peter Arnell, Chrysler LLC’s Chief Innovation Officer who led the design process. “These vehicles use no gasoline and emit no pollutants. So whether it’s a trip around the neighborhood or the drive to school or work, the GEM Peapod is the ideal way to contribute to a greener planet, and a healthy lifestyle.”

The Peapod is the first of several new models to be introduced in the upcoming years.  In addition to the Peapod G.E.M. plans to introduce a light duty battery powered truck as well as a larger truck meant for city use.  Both are slated for production in the next year.

“Over the past decade, GEM has established itself as the nation’s leading battery-powered, pure electric vehicle,” said GEM President and COO Rick Kasper. “We have done that by responding to the needs of our customers for safety, utility, versatility and performance in environmentally friendly vehicles.”

G.E.M. is the nations leading electric car manufacturer with over 38,000 electric vehicles already sold.

Cerberus Capitol Management owns an 80.1% stake in Chrysler.  The deal between Daimler and Chrysler left Daimler with 19.9% in Chrysler.  It would seem that Cerberus thinks that Chrysler is well on it’s way to becoming profitable and they don’t want to share any of that profit with Diamler, Cerberus wants to buy the remaining 19.9% from Daimler.  From a Chrysler Press release:

Chrysler LLC confirms that Cerberus Capital Management, LP has approached Daimler AG about the possible redemption of its 19.9 percent stake in Chrysler Holding LLC. Cerberus and Daimler are currently in discussions.
In the event of a successful transaction, common projects between Daimler and Chrysler in the areas of research and development and advanced technologies would continue.

Since the guys running Daimler are pretty business savy I’m sure they’ll be eager to sell their remaining 19.9% to Cerberus.