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GM Asks For $2.6 Billion From DOE For Hybrid Program

2011 Chevrolet Volt

2011 Chevrolet Volt

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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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  1. "please note all the car lots full of hybrids"

    The only logical choice is the Converj. Toyota is break-even at best on their Prius, so in order to have any hope of making money they've got to charge a premium for a premium product. Since the lower-priced niche is full of competitors, a mid-priced, $30-35K offering could make sense. This isn't rocket science. There wouldn't be much volume for a car like that but at least GM wouldn't be cranking out oceans of cheap competitors to the Insite & Prius and losing money on each one (we already know how that business model crashed). That's a fools errand and certainly GM knows this--unless the goal is to stay hooked to the federal teat, in which case profitability comes second to socialist/green product planning goals.
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