GM unveils Volt on company's 100th anniversary

September 16, 2008 1:32:25 PM PDT
General Motors Chairman and CEO Rick Wagoner today unveiled the automaker's electric car. He says the turmoil in U.S. financial markets should not affect government loan guarantees that would help the auto industry develop high-tech cars. Speaking to reporters at GM's 100th anniversary celebration, Wagoner said 25 billion dollars in loans approved last year as part of an energy bill should now be funded to help the industry build next-generation automobiles and meet government fuel economy standards.

GM, Ford and Chrysler have been working to get Congress to fund the loans after months of tight credit markets, tepid sales and high gasoline prices.

Wagoner showed off the production version of the Chevrolet Volt, which will be able to go 40 miles on a single charge from a home outlet. He said GM has been testing the car's new lithium-ion battery packs and is confident in their performance.


Load Comments