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August 11, 2009

REPORT: GM admits Volt concerns to U.S. Treasury

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2011 Chevy Volt – Click above for high-res image gallery

According to a report on Autocar, General Motors submitted a regulatory filing with the U.S. Treasury on Sunday that disclosed a number of potential problems with the Chevy Volt program. Not only is it possible the car may not be ready by its promised launch in November of 2010, but GM knows it will very likely lose money on each unit sold even if it does hit the market on time.

Further, GM states that there is no guarantee that it will get any of the $5.7 billion it requested from the Department of Energy’s Advanced Technology Vehicle Manufacturing Program, which would very likely go a long way towards defraying the cost to set up the Volt’s assembly plant. Lastly, the report suggests that GM could be leapfrogged by another company before it gets the Volt to market:

Our competitors and others are pursuing similar technologies and other competing technologies, in some cases with more money available. There can be no assurance that they will not acquire similar or superior technologies sooner than we do.

Granted, this is a regulatory filing that’s likely just painting a worst possible case scenario and probably isn’t anything to get worked up about. Still, as The General itself points out, the Volt has a long way to go before it makes an appearance in a Chevy dealership near you.

Gallery: 2011 Chevy Volt

[Source: Autocar]

REPORT: GM admits Volt concerns to U.S. Treasury originally appeared on Autoblog Green on Tue, 11 Aug 2009 07:50:00 EST. Please see our terms for use of feeds.

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