GM racing Toyota to 100% electric vehicle

 

General Motors (NYSE: GM) is setting itself up for what could be the largest unveiling of an electric vehicle ever with its Volt line of electrically-powered vehicles. As gasoline reaches and surpasses the $3/gallon mark nationwide, customers have to wonder why no car manufacturer has fulfilled the need for an electric car; and one that does not have limitations rendering it non-competitive to a standard gas-powered passenger car, like these Zapcars pictured here.

GM executives have recently said that the Volt is on track for sale for late 2010, and it will be a rechargeable vehicle that is 100% electric, not a hybrid. It’s not only nice looking, it would eliminate gas as a variable in that daily commute. To some, that means a savings of a few hundred dollars (or more) per month. GM, however, is not going at this effort alone. Toyota is in the race as well, and there will soon be a “showdown” with GM, according to a senior GM executive last week.

The Chevy Volt should be launched in November 2010, according to GM CEO Richard Wagoner and head of global product development Robert Lutz. That’s three years from now, and it’s still considered an “aggressive” posture by GM’s global design and manufacturing teams. Will Toyota be able to beat that deadline and deliver a solid, 100% electric offering within the next three years and once again show up its main global rival? Lutz said that by next April, one company will be able to show a prototype on the street, and the other will take a credibility hit (stating that batteries won’t be able to push cars, even in three years). We’ll see who is correct in about five months or so.

Source :  BloggingStocks

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