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GM Losing up to $49,000 per Volt
“‘It wasn’t conceived as a way to make tons of money,’ he said. ‘It was a big dip in the technology pool for GM. We’ve learned a boatload of stuff that we’re deploying on other models,’ Parks said. Those include the Cruze and such future cars as the 2014 Cadillac ELR hybrid.
The same risky strategy–gambling on relatively untested technology – drove massive investments by Toyota Motor Corp in the Prius hybrid and Nissan Motor Co in the Leaf electric car.” (Chicago Tribune)
Untangling all the direct and indirect subisidies carmakers get is probably harder than building an electric car. But it appears that Toyota gambled with its own money while GM’s burning through subsidies to play catch-up.
FEE Timely Classic
“The Electric Car Seduction” by Lawrence W. Reed
Brought to you by The Freeman Magazine a publication from the Foundation for Economic Education. Love economics? Like FEE on or follow us on Twitter!
2012-09-11 11:02:45
Source: http://www.thefreemanonline.org/in-brief/gm-losing-up-to-49000-per-volt/
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