GM: Work on the Chevy Volt progressing despite financial woes

General Motors product development chief Tom Stephens said today that work on the 2011 Chevrolet Volt plug-in hybrid is progressing as planned despite the company’s financial troubles and the threat of bankruptcy right around the corner.

“At this point in time, I know of no reason why we can’t be in production by November of 2010,” Stephens told reporters.

According to Automotive News, Stephens said that GM is still deciding which of the other three core GM brands – Cadillac, Buick or GMS – would get the Volt’s hybrid powertrain technology.

It was reported last month that the U.S. Energy Department has put a hold on federal funding for its 2011 Chevrolet Volt until the GM is seen financially viable by Obama”s automotive task force. 

The Detroit automaker reported a loss of $6 billion in the first-quarter of 2009.

2011 Chevrolet Volt:


– By: Omar Rana