Chevy Volt cost $750 million - Beyond Fossil Fuel: "Electric cars are playing a big part in the Detroit automakers plans for the future, although with all there financial problems you wonder if they will continue with their plans. The problem for GM is the Chevrolet Volt will not be profitable for years.
GM DEO Rick Wagoner told a congressional committee recently the Volt will not be in production till 2010 and will not be fully cost competitive.
Some experts believe even though electric cars will not help the bottom line immediately, these programs will be important to the survival of automakers around the world.
Money is running out to build regular cars and trucks, but the big three automakers continue to fund projects like hydrogen fuel cell and electric vehicles.
The business plan GM sent to congress showed them spending over $750 million to develop the Volt, which is mostly for battery research. What happened to the EV One they developed years ago for a fraction of that amount?"
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