As Jonathan Berr pointed out early today it is quite possible that the days of cheap gas are gone forever. In another article Sarah Gilbert told her story of hanging up her keys for good in her fight against high gas prices and carbon emissions. As more and more people become tired of high gas prices and a steadily worsening environment, auto makers are going to be under increasing pressure to move towards alternative fuel vehicles. Today General Motors Corporation (NYSE: GM) announced its timetable for getting out an electric car. The company now thinks that it will be able to start to produce a completely electric car by the year 2010. While its target is still 3 years away it is good to see progress being made towards the day of the electric car taking over the roadways.
But don't get too carried away just yet. GM is hedging its bets and has already stated that whether or not it will actually be able to meet the 2010 deadline remains a mystery even to them. It is estimating there is a 10% chance that the program will fail to be successful.
The company expects to have a prototype of the car, called the Volt, finished by the end of this year. Critics like to point to a failure in 2006 for GM to capitalize on their first attempt at the electric car named the EV1 but the company firmly insists this time will be different.
While plans are still way up in the air, GM thinks that the Volt is going to be able to offer customers up to 40 miles on a charged battery, which should provide the average commuter a full days worth of power on a single charge. Not ideal for long trips, but more than plenty for getting around town.
Good luck GM. We are cheering for you!
Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer.
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Reader Comments (Page 1 of 1)
3-06-2007 @ 5:17PM
Moe said...
Yawn! What incredibly vacuous nonsense from a global class manufacturer who hopes to achieve financial and consumer credibility. Not! I will likely have to buy another Toyota while I wait on these dunces. Sorry folks, but these guys have had many,many opportunities to succeed & look where they are today. Utterly shameful!
3-06-2007 @ 5:27PM
JBDR said...
Yaeh GM needs to pay off the politcal parties like Toyota has done to be a success.
Too bad they don't have a home country screwing with currency values and phony border policies too.
Then maybe GM could make the fools that buy Toyotas happy.
3-06-2007 @ 8:58PM
curtis savoy said...
people in this country are under the assumption that gm has not closed the gap. try 5 yrs and 100k miles and look at the attributes gm offers that toyoto can not,better still go drive both. the american car every time.
3-06-2007 @ 10:05PM
Larry Rowe said...
Right on at 5:27PM & 8:58PM. The poor sap in entry 1 is suffering from media bias. Fact - Toyota is increasing sales of big thirsty trucks more than Prius cars (which need rebates now and never got the posted MPG anyway). Fact - Quality is strong across the board, yes even on US brand vehicles. Look at what GM is actually building, 1st rate and better backed. Toyota's had a major recall increase recently and a serious engine sluging problem was swept under the rug by our media. Fact - Keeping your money at home is smarter than sending it away to those who manipulate currencies. Final fact - GM, Ford and Chrysler employ more Americans (at a higher pay scale) and provide benefits to more US people than Toyota ever will. Be smart, keep your neighbor - and yourself - working!
3-06-2007 @ 10:39PM
max e. doughman said...
Hmmm..of course, OUR government lets undocumented forieners come to OUR soil and compete with US for OUR jobs on a massive scale! Having lived in several EU countries for years prior to life in LA I can say 4 sure that wont happen there. Example #1 I was framer in LA 18 years ago at 32.50 per hr.,today they make 9.00 per hour.Cudos to GM for not caving in and keeping wages livable,but shame on them for burying the e-car! 3 years my butt on developement!Some guy already has a hybrid 140 mpg,200 hp engine that"may require 15 to 20 years for testing and patent approval". Apparently Volvo didnt think so,watch out GM! But dont worry too much,it will never catch on here!(wink,wink!)