By Leftlane Staff
Friday, Aug 11th, 2006 @ 10:09 am

General Motors, BMW , and Daimler Chrysler are spending over $1 billion for the development of a two-mode hybrid transmission and related systems that backers say will enable the companies to leapfrog Toyota ’s hybrid technology. In late 2005, the three companies announced they would form an alliance to develop a dual-mode hybrid system. In April of this year, the companies detailed the technology, saying it represented “a major automotive industry milestone.” Development of the transmission is expected to cost about $300 million for the partners, said Andreas Truckenbrodt, executive director of DaimlerChrysler’s hybrid programs. The remainder of the investment represents the cost of integrating the new hybrid system with other vehicle components, he said. The Reuters report did not make clear how much had already been spent on the project, and if that was included in the $1 billion figure.

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