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As gas prices continue to go up and down and up again, American consumers -- still -- are opting for gas-powered vehicles over the more expensive hybrid cars and trucks that almost all major auto manufacturers are making available these days. From hybrid SUVs like the Toyota Motor Corporation (ADR) (NYSE: TM)'s Highlander to the Nissan Motor Company, Ltd. (ADR) (NASDAQ: NSANY) Altima hybrid sedan, there are increasing choices in the market for all kinds of vehicles that save on gas while providing the speed and agility customers demand in a driving experience. What about electric vehicles?

Pioneers like ZAP! have been making gains in the sale of 100% electric vehicles for some time now, although the global numbers have not been a blip when all global vehicle sales counts have come into play. When a major global auto manufacturer says that it is speeding up development of electric vehicles, though, bystanders best pay attention. The technology in the newer General Motors Corporation (NYSE: GM)'s Chevy Volt -- an electric vehicle -- may soon find its way into more GM vehicles. Where there is a market to be tapped (although mainly unpopular right this second), GM's need to grow 'profitable' market share in new or existing (or any) market remains clear as a cloudless day.

But then GM CEO Rick Wagoner chides the U.S. Congress for a newer stance on fuel economy standards for passenger cars and trucks right after the comment that GM is speeding development on electric car technology. Talk about speaking from both sides of the mouth -- but was he really? Wagoner was saying that imposing tougher fuel standards has not worked in the past, although the concept is easily understood as a way to reduce U.S. oil consumption. Wagoner's hints towards the near-term solution of biofuels and a longer-term solution of electricity to power vehicles seems clear to me, but it's a change that can't happen overnight in the sluggish American auto industry (which can' turn on a dime). Given GM's recent financials, the company has more important fish to fry, right?

GM speeding up electric car development? originally appeared on BloggingStocks on Tue, 12 Jun 2007 17:46:00 EST. Please see our terms for use of feeds.

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