Lutz acknowledged that not bringing a hybrid to market before Toyota with its Prius was a huge mistake and that they lost their image of technological leader through this. GM has had electric vehicle technology since the 1960s, and their most important EV product to date was the EV1.
GM has only recently brought some hybrids to market starting with the mild hybrid Vue. The dual-mode hybrids are GMs major leap forward. The Volt is the next big step, however GM is aware that they won’t break even for years on it. Lutz said that the board knows this and is ok with it because they realize the importance of the Volt. GM may sell 500,000 of them worldwide.
In case you guys were afraid GM forgot to take a jab at Toyota’s Prius, Lutz made sure to mention that he thinks people would have to ‘live 150 years to recoup the cost of the Prius over a conventional car.’
Source: Detroit News
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