| General Motors launches electric car initiative |
| Tuesday, 14 August 2007 | |||||||||||||||||||||||||
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General Motors may allow buyers to rent the battery which powers the forthcoming Chevrolet Volt in a move to keep costs in line with a comparable petrol-engined vehicle. The electric powered car is scheduled to be launched in 2010 in both left and right hand drive formats.  Volt: GM's concept car The battery, which has a 40 mile range, would be rechargeable by a normal electrical point or the car's small combustion engine, according to the Financial Times. Battery rentalThe paper reported that the battery rental would help GM give the vehicle a wider appeal, and if it is successful it could put GM ahead of its main alternative energy manufacturer competitor, Toyota.
The Volt was unveiled at the Detroit Motor Show earlier this year.
It is hoped electric cars will enter the mainstream for the first time with the launch of the vehicle.
Parts dealMeanwhile, GM has disposed of Allison Transmission, its powertrain parts manufacturing operation, in a multi-billion dollar deal.
The US car giant is expected to see gains of over $5bn (£2.5bn) in quarter three following the sale of the parts division.
Shares rose 61 cents (1.8 per cent) to $34.46 yesterday following the announcement.
GM has been restructuring since 2005, off-loading non-core assets, including selling its GMAC financial arm.
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Comments (6)
Anon E. Moose
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This is typical GM P... This is typical GM PR stunt. They had an electric car and they killed it in favor of those stupid SUVs. Rick Wagoner actually said that drivers don't care about fuel economy... NOW, after their cars aren't moving off the lots, they suddenly became so forward looking it's not even funny. I bet the Volt will never be built. Oh and this battery renting idea, has been announced before by a different company, so it's not new either. |
Rod
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I agree with Mike. ... I agree with Mike. Gm produces fine vehicles. The 70's and 80'3 model year vehicles are long gone. Get with the times, people. |
Larry
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Who are they kidding... Who are they kidding? After taking back and sc**pping the "rented" EV1's who, in their right mind, would rent an experimental vehicle (or worse, part of one) from General Motors? What kind of GM shill would report this article without raising that very issue? How does renting it make it more affordable? Lease payments are usually designed to recover the total cost plus interest. If GM is planning to subsidize the battery, why not just sell the vehicle at a subsidized price like Toyota did when introducing the Prius? This is just another example of marketing spin. I suspect that there will be as much substance to the Volt as there is to it's marketing i.e. NONE |
Mike
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Larry,
When the P... Larry, When the Prius owners start replacing batteries, there will be unbelievable sticker shock. With the rental of the batteries, there will be a more predictable cost for the customer. In addition, GM will take all the risk of the potential higher failure rate that comes with new technology. EV1's were leased not rented. After the end of a lease, the lessee returns the vehicle back to the lessor. GM was not required to make the vehicle available for purchase after the lease was terminated. What GM did with the vehicles after the lease was over is a discussion for the stockholders. Are you a stockholder Larry? GM bashing is ugly and not very helpful to this or any other discussion. |
Streetcar Eddie
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What happens if you ... What happens if you fall behind on your rent? Does the repo man take the battery out or do you get a battery eviction notice and a sherrif with a socket wrench? |
kent beuchert
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Price of car with re... Price of car with rental option around $20K, buying batteries and car : $30K. |
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