GM unveils electric car, the Volt

2008-09-17 05:46:53 GMT2008-09-17 13:46:53 (Beijing Time) Reuters

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General Motors unveiled the production version of the car that it hopes will turbocharge its momentum and recast its image. CEO Rick Wagoner showed off the highly anticipated Chevrolet Volt, a plug-in electric car. It's the focal point of GM's 100th anniversary celebration. The Volt reflects the company's drive to move away from gas guzzling trucks and SUVs.

(SOUNDBITE)(English) RICK WAGONER, CHAIRMAN & CEO, GENERAL MOTORS, SAYING:

"It's important as a symbol of the company, It shows we're forward looking, that we're committed to playing a big role and that making use of personal transportation is just as important and viable in fifty years as it is today."

The car looked more curvy than last year's sporty angular concept version that evoked a muscle car. Vice chairman Bob Lutz said GM altered the design so the Volt can reach its ambitious target range of 40 miles on a lithium ion battery.

(SOUNDBITE)(English) BOB LUTZ, VICE CHAIRMAN, GENERAL MOTORS, SAYING:

"We put the original concept in the wind tunnel and found it was horrendously unaerodynamic. It was almost better if we had put it in the wind tunnel backwards. From an aerodynamic standpoint, we had to start over."

But critics wonder if GM can deliver by its target date of November 2010. A US energy official said Monday that practical lithium ion batteries are still miles away. What's more, a lithium battery costs roughly 10-thousand dollars.

Denise Gray heads battery engineering at GM.

(SOUNDBITE)(English) DENISE GRAY, GLOBAL BATTERY ENGINEERING DIRECTOR, GENERAL MOTORS, SAYING:

"We're working diligently to bring that cost down as much as possible. It'll take a number of learning loops by OEMs, suppliers to optimize the overall system to get volumes up and the price down."

So among other things, GM is working with suppliers to cut down the number of steps and use different materials for its battery to cut cost.

Consumers could get a jolt when they hear the estimated price for a Volt: under $40,000. GM hopes federal and state governments will offer tax credits to put the Volt within the reach of car buyers.

Fred Katayama, Reuters, Detroit, Michigan.

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