GM to launch Volt by end-2010
General (GM.N: Quote, Profile, Research) plans to launch its electric car, the Chevrolet Volt, by the end of 2010 despite skepticism at GM about that target, its chief of global product development told Reuters on Tuesday.
As the race to bring a mass-market, rechargeable electric vehicle to the market heats up, GM's Bob Lutz said employees working on the Volt "are becoming increasingly nervous."
"There is a lot of skepticism within the company about the timeline," Lutz said at the Reuters Autos Summit in Detroit. "People are biting their nails, but those of us in a leadership position have said it has to be done."
Lutz said the Volt plug-in hybrid -- which GM plans to road-test early next year and produce by late 2010 -- is crucial to GM's efforts to snag the environmental technology crown from Japanese rival Toyota Motor Corp (7203.T: Quote, Profile, Research).
"When people think of Toyota, their iconic brand is the Prius," Lutz said, referring to Toyota's popular hybrid car.
"When they think of GM, the iconic brand is, unfortunately, the Hummer," he added, referring to its gas-guzzling, military-inspired sport utility vehicles. "That perception needs to change.
GM is the only automaker to have provided a timeline on production even though other companies, such as Ford Motor Co (F.N: Quote, Profile, Research) and Toyota, are working on similar technology.
"We have to reestablish GM's leadership and the Volt is, frankly, an effort to leapfrog anything that is done by any other competitor," Lutz said.
Unlike earlier gasoline-electric hybrids, which run on a system that twins battery power and a combustion engine, plug-ins are designed for short trips powered entirely by an electric motor and a battery charged through a socket at home.
Lutz said GM regrets its decision not to build a hybrid car when Toyota launched its game-changing Prius in 1997.
"We kind of lost the first couple of laps of the green car race," Lutz said, saying they couldn't go to GM's board "for a multihundred-million program that was going to lose money."
With the Prius, Toyota controls about 80 percent of the market for hybrids in the United States.
"We have since realized that letting Toyota gain that mantle of green respectability and technology leadership has really cost us dearly in the marketplace," Lutz said.
40 MILES ON BATTERY
GM is designing the Volt to run 40 miles on battery power alone, with an on-board gasoline-powered engine as a backup
The Volt would be outfitted with new lithium-ion battery packs, which hold a charge longer than the nickel metal hydride batteries now used widely in automobiles.
Automakers say lithium-ion technology remains the biggest challenge in producing a plug-in as they try to lower the cost of the batteries and boost their power and storage capacity.
Also, the current generation of lithium-ion batteries, used in devices like laptop computers, have a tendency to overheat.
Toyota executives have said they do not expect lithium-ion batteries to be ready for use in the company's market-leading Prius hybrid by GM's 2010 timetable.
GM is testing lithium-ion battery technology developed by its two suppliers -- A123 Systems and Compact Power Inc, a subsidiary of South Korea's LG Chem (051910.KS: Quote, Profile, Research). But Lutz said GM needs to invest more in battery development internally.
GM already has a patent attorney assigned to the Volt to make sure the company keeps hold of rights to the technology.
"I'm convinced we can do the Volt and put it on the road, but if we want a commanding and permanent lead on this type of vehicle ... we have to control the intellectual property," Lutz said. "Otherwise it will propagate to other manufacturers too quickly."
General Motors' all-electric Volt to reach consumers in late 2010
General Motors is quite confident these days. The company recently priced its highly-anticipated full-size hybrid SUVs and showed off a concept version of its full-size hybrid Chevrolet Silverado. GM CEO Rick Wagoner also noted that his company will release one hybrid per quarter for the next four years -- lofty goals indeed.
Likewise, the company's brand new Chevrolet Malibu mid-sized sedan has been generating an overabundance of praise and its new $32,000 second-generation Cadillac CTS just walked away with Motor Trend's Car of the Year award.
GM is hoping to use this momentum and high level of interest in its vehicles to push the electric motor-powered Chevrolet Volt to customers by the end of 2010.
GM vice chairman Bob Lutz has heard all of the critics who question GM's aggressive ramp for the Volt, but is still committed to moving forward.
"There is a lot of skepticism within the company about the timeline," said Lutz. "People are biting their nails, but those of us in a leadership position have said it has to be done."
GM is hoping to use the Volt as a halo car to further strengthen its brand and its commitment to fuel economy. Dodge used the Viper to enhance its image for performance and styling in the 1990s. Toyota used its Prius at the turn of the century to shroud the entire company with a green image despite the fact that gas guzzlers like the Tundra and Sequoia share the same showroom space.
"When they think of GM, the iconic brand is, unfortunately, the Hummer," continued Lutz. "That perception needs to change.
The GM Volt features a 1.0 liter, 3-cylinder gasoline engine which is solely used to recharge the onboard lithium-ion battery pack. The battery pack, which will be manufactured by Compact Power and Continental Automotive Systems, powers the Volt's electric motors for forward propulsion.
GM says that the Volt can travel for up to 40 miles on battery power alone. After the 40 mile threshold has been reached, the gasoline engine kicks back in again to recharge the battery pack.
The entire industry has its eyes on GM and its Volt. Toyota took a big risk with its Prius and it has paid off dearly for the company.
"We have since realized that letting Toyota gain that mantle of green respectability and technology leadership has really cost us dearly in the marketplace," Lutz added. "We have to reestablish GM's leadership and the Volt is, frankly, an effort to leapfrog anything that is done by any other competitor."
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