The big three must reduce models to basics: a truck, an SUV, a large family sedan, an economy sedan, and a sports car. Use existing tooling.
Keep building these models to keep the workforce employed but build them without engines and transmissions. These new vehicles, called Transition Rollers, are ready for a re-power. No new tooling is required at this stage. The adapters are part of the kits described next.
At the same time as the new Transition Rollers are being built, keeping the work force working, utilize existing technology now, create re-power kits to retrofit the Transition Rollers to SCEVs (self charging electric vehicles) for long range capability up to and over 100mpg. If you don't think this technology is realistic or available, check out the Progressive Insurance Automotive X prize. Alternatively, check out Lincvolt.com or other examples.
That actually sounds like a great idea.
And I had no idea that Neil Young had signed up for the Automotive X Prize with his Linc Volt. How cool. I hope he wins it.