GM Asks For $2.6 Billion From DOE For Hybrid Program

April 2, 2009

A sobered, Wagoner-less GM asked Obama's Department of Energy for $2.6 billion in low interest loans. According to an updated business plan released by the company yesterday, the money would be used "to support the development of three new hybrid vehicles" says Automotive News.

2009 Cadillac Converj Concept

2009 Cadillac Converj Concept

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The three vehicles would include the 2011 Chevrolet Volt and two more vehicles based on that planned E-REV that GM's been pinning its hopes on. This new request for funding ups GM's total requests to $10.3 billion to a DOE program supporting the development of efficient vehicles.

This marks GM's third request, in all, for low-interest loans backed by U.S. taxpayers. It also marks the General's first official announcement that it will be moving ahead with variants based on the Volt's E-REV architecture, which pairs a newly-developed 1.4-liter gasoline four-cylinder with lithium-ion-powered electric motors that can propel the vehicle on electricity alone for up to 40 miles.

One spinoff possibility is the handsome Cadillac Converj concept first revealed at the North American International Auto Show held in Detroit in January.

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