EXCLUSIVE! Crosley to return as government-backed automaker!, 4/1/2012, 12:00 am
Reminder from: Crosley Yahoo! Group Title: EXCLUSIVE! Crosley to return as government-backed automaker! Date: Sunday April 1, 2012 Time: All Day Repeats: This event repeats every year. Location: By Daniel Strohl Street: CROSLEY CAR OWNERS CLUB (CCOC) Notes: We've just received confirmation from executives at Crosley Corporation that the company has secured financing and will return once again as an automaker. In a deal months in the making, the administration's auto industry task force, frustrated with the current Big Three's halting attempts to produce a fleet of green automobiles, decided to fund an outside company with experience in the auto industry to construct affordable and efficient automobiles. According to sources, the task force spent a week coming up with a list of manufacturers, and member A.F. Day recalled that Crosley still exists as an appliance manufacturer in Winston-Salem, North Carolina with another branch of the former company producing radios in Louisville, Kentucky. Day approached Crosley officials with a $2.2 billion loan guarantee, which is earmarked for a new factory in the Winston-Salem area, though other sources state that the factory could possibly be built in Alabama or even near Cincinnati. Day will also work with Crosley officials to choose an industry leader to head up the new company; sources suggest that Roger Penske's name tops the short list of candidates. It seems the new Crosley Automobile Corporation is expected to file papers of incorporation soon and will quickly enter the market by rebadging a Toyota product, the iQ, which is expected to hit the American market shortly before the Crosley's expected launch date. However, sources say the Crosley will differ from the iQ in that the Crosley will offer an all-electric drivetrain with lithium-ion batteries designed to fully charge in about 10 minutes. Range is expected to be about 300 miles, and top speed about 80 miles per hour. Rumors pinpoint North Carolina-based battery company and defense contractor Saft for supplying the lithium-ion batteries. Pricing so far has not been announced, but expect an entry-level price tag less than $10,000. Crosley may work with Toyota on developing a station wagon version for sale sometime later. Get reminders on your mobile, Yahoo! Messenger, and email.
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