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Will Detroit's cash crisis kill the electric car?
Peak Oil News —
... technology and gas-free electric vehicles. The star of that marketing show has been the Chevy Volt, a rechargeable car that General Motors Corp is designing to run 40 miles on battery power, meaning some commuters would never need to fill up with gas. But with its cash dwindling and U.S. auto sales crashing to 25-year lows, GM has joined Ford Motor Co and Chrysler LLC in seeking $25 billion in federal handouts, which are under consideration this week by the U.S. Congress. Reuters
DrumBeat: November 19, 2008
The Oil Drum —
... CHICAGO (Reuters) - Devastating.
That's the word being used to describe the impact on Michigan and its largest city, Detroit, should financially ailing automaker General Motors file for bankruptcy protection.
Consumers will suffer if GM goes under
Higher car prices, the end of incentives and vehicle shortages could occur if GM and other Big Three automakers don't get a bailout, according to experts.
Will Detroit's cash crisis kill the electric car?
With its cash dwindling and U.S. auto ...
Current Economic Downturn to Kill the Electric Car?
GreenPacks.org —
... go green. In fact, some experts claim that the current situation would have never cropped up if car makers switched to greener alternatives 10 years earlier, when the first signs in that direction were clearly out on view.
Irrespective of Congress’ decision and the status of cars like Volt, one hopes that this time around, the electric cars are here to stay as the ailing planet desperately needs them. Meanwhile, should we just let Detroit go down?
Source: Reuters
