Ex-Chrysler CEO and co-president Tom LaSorda (above) and ex-VP of North American sales Steven Landry have joined a small Detroit startup called ALTe. Focused on the fleet industry, ALTe aims to retrofit light trucks and vans, limos and taxis, and police cars with its flexible and proprietary plug-in hybrid drivetrains.
ALTe is headed by other former car industry alumna from Ford and Tesla. They formed the seed of technical know-how, and speculation is that they are looking to Lasorda and Landry to help them lure three groups: institutional investors, fleet operators and dealers.
At the moment ALTe is focused on acquiring the funds it needs in order to be approved for a DoE loan (it has to get money to make money). Eventually, based on global industry regulations alone the company stands to make a fortune... if it can just stay in business long enough to make that fortune.
[Source: Forbes | Image: Bill Pugliano/Getty]