In 1924, Walter Chrysler introduced the Chrysler automobile to America, It was a welcome addition to the growing line-up of affordable 6-cylinder cars. Today, Chrysler owns the Chrysler, Dodge, Jeep, RAM, and GEMCAR brands. Chrysler LLC was owned by Cerberus Capital Management, L.P., from May 2007 to April 30, 2009. At that time, Chrysler LLC filed for bankruptcy protection under Chapter 11 of the bankruptcy code and announced that it would go into partnership with Fiat, an Italian automobile maker. Fiat owns 20% of the new company and may increase its stake to 35% and eventually 51%. In June 2009, a “New Chrysler” was launched, with the U.S. government providing $6.6 billion in financing. The company is now moving in the direction of hybrid and electric cars, with three hybrids on the drawing board: the Chrysler Aspen, Dodge Durango, and Dodge Ram (which will have Hemi engines).