Why did Chrysler sell Global Electric Motorcars (GEM)?

While the US automotive industry has changed dramatically over the years, with some of the larger companies struggling financially, it does make you wonder why Chrysler sold Global Electric Motorcars (GEM) to Polaris. Was this purely financial? Did Chrysler miss a trick?

Didn’t fit their business model. And they were broke.

I think it was probably a time when all major car companies were strapped for cash - looking to pawn the family silver to get by.

T think this is a GREAT topic. I would like a topic like this to be a sticky somthink like the HISTORY of Gem im sure there is alot of old timers with GEM still floating around that know the History and how things went down much better then me but this is what I have been told

After the California tax credit stopped around (2002-2003) where people could buy Brand new gems in Ca for under $5000 stopped and people saw a price tag of $10k they said NO THANKS. Sales stopped and Chrysler had a dud on the books.