[JGK95]

Latest from Cerberus per Autoweek.com

Cerberus Capital Management LP’s executive vice president Frank Klegon said the company is quickly giving the go-ahead to nine Chrysler projects. Klegon said to expect the new owners of Chrysler LLC to move fast, noting that Cerberus gave the go-ahead within 36 hours of agreeing to buy the automaker.

Speaking at an auto conference in Traverse City, Michigan, Klegon said that as a private company, Cerberus will be make decisions more quickly, “and thus move faster to respond to the market,” Klegon said.

He said about $3 billion was approved for new engine and drivetrain plants where the plan is to build more efficient fuel economy.

Chrysler has started building three engine plants for new V6 engines that the company says will provide a 6-to-8 percent gain in fuel efficiency. The engine is designed with Chrysler’s multi-displacement system. Similar to Honda’s and GM’s, the engine runs on three cylinders when less power is needed and all six when more power is required.

Klegon also said a new dual clutch transmission developed with Getrag will be ready for 2010 model-year vehicles.

Jay K.