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GM's cut of the 700B with a billion


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#1 Troutman

Troutman

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Posted 25 September 2008 - 09:18 PM

General Motors Corp CEO Rick Wagoner said Thursday that the automaker should be able to put to good use its portion of a $US25 billion ($A30.04 billion) government loan package for new technology.

Speaking to reporters at a ceremony announcing a new engine plant in Flint, Wagoner said many of the loan program's specifics still must be written by the US Department of Energy, but GM can live with the version the House approved Wednesday.

"We'd like to see them written to include all new technologies with significant improvement in fuel economy, but the legislation does have specific guidelines as well," he said.

GM is developing the Chevrolet Volt, a rechargeable electric car that can run up to 65 kilometres on battery power, with a small internal combustion engine powering a generator to run the car after that. It's also spreading its dual-mode gas-electric hybrid system to more models.
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