USA: General Motors rolls out its battery-powered Chevrolet Volt at a ceremony marking the start of production

Record ID: 725899

  • Title: USA: General Motors rolls out its battery-powered Chevrolet Volt at a ceremony marking the start of production
  • Date: 1st December 2010
  • Summary: SANTA MONICA, CALIFORNIA, UNITED STATES (NOVEMBER 30, 2010) (REUTERS) (ORIGINALLY 4:3) (SOUNDBITE) (English) KARL BRAUER, SENIOR ANALYST, EDMUNDS.COM, SAYING: "The market isn't very uptight or upset about gas prices. Whether we should be or not, we've got used to $3 dollar gallon, give or take, and without any instability in that, and drama, in terms of gas prices, vehicles like even Priuses and Civic Hybrids, let alone $40,000 Volts, are much harder to appeal to consumers, because they just don't really feel like they need to spend the extra money that it takes to get that technology if they're used to their gas bill and they don't have a problem paying it right now."
  • Embargoed: 16th December 2010 12:00
  • Keywords:
  • Location: Usa, Usa
  • Country: USA
  • Topics: Industry,Transport
  • Reuters ID: LVA11JBN97VUOJCB3J2B93TEGYE2
  • Story Text: General Motors launched its battery-powered Chevrolet Volt on Tuesday (November 30) and announced it would hire 1,000 engineers and researchers in Michigan over the next two years to develop more electric cars and hybrids.
    "This is a first step in the electrification of the car. I mean, someday, maybe there will be a breakthrough and we want to be on the forefront of the electrification of the automobile, not just in the lab, but on the road," GM Chief Executive Dan Akerson said at a ceremony marking the start of production of the plug-in hybrid.
    GM introduced a concept version of the Volt at the Detroit auto show in 2007 and started production this month at a plant that straddles Detroit and the city of Hamtramck, Michigan.
    The Volt, which tops the Toyota Prius for fuel economy, is a first-of-its-kind vehicle that GM has touted as a symbol of its commitment to pushing for gains in fuel efficiency and developing new technology.
    The Volt is designed to run for 35 miles on a full charge of its 400-pound lithium-ion battery pack supplied by a unit of Korea's LG Chem.
    After that, the car is powered by a 1.4-liter engine that gives drivers an estimated 379 miles of driving range.
    Some critics questioned whether the Volt would survive GM's restructuring in bankruptcy in 2009 because of its high cost and the low profit margin on the first shipments of the $41,000 car.
    Karl Brauer, senior analyst at Edmunds.com, said despite its green credibility, the Volt faced an uphill battle with potential car buyers because of its high price tag.
    "Whether we should be or not, we've got used to $3 dollar gallon, give or take, and without any instability in that, and drama, in terms of gas prices, vehicles like even Priuses and Civic Hybrids, let alone $40,000 Volts, are much harder to appeal to consumers, because they just don't really feel like they need to spend the extra money that it takes to get that technology if they're used to their gas bill and they don't have a problem paying it right now," Brauer told Reuters.
    GM will begin shipping the Volt in limited numbers in December.
    The automaker plans to expand shipments of the Volt to more markets in 2011 and will also start to export the vehicle, Akerson said.
    The Volt, which has won honors as Motor Trend Car of the Year and Green Car of the Year, is the first in a number of electric or partly electric cars to arrive over the next two years.
    The growing segment also includes the all-electric Nissan Motor Leaf and upcoming rechargeable cars from Toyota and Ford.
    Tuesday's event to mark the start of Volt production is the first major event for GM since its record-setting $23 billion initial public offering of shares earlier this month.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2011. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register