An exasperated administration official noted that the companies had not done enough to reduce debt; in some cases, it actually increased during this restructuring and review process.
NVDL: Last week I attended a presentation on an electric vehicle and the guys say that ICE [Internal Combustion Engines] conventionally only utilise 15% of the energy they consume - the rest goes into heat, wear and tear, entropy etc. 15% - that's shocking inefficient. The Joule is engineered to get 75% efficiency off a battery. GM and Chrysler could start by engineering lighter vehicles. They appear to lack imagination and vision. They've been caught with their pants down.
The White House pushed out GM's chairman and directed Chrysler to move quickly to forge a partnership with Fiat if it expects to receive additional government assistance.