GM unveils Chevy Volt concept, plans to build it by decade's end

DETROIT- General Motors executives plan to build an electric-hybrid sedan by the end of the decade and sell it at a price similar to competing vehicles. GM unveiled a concept electric vehicle, the Chevrolet Volt, today at the North American International Auto Show.The Volt is an electric vehicle that uses a gasoline engine to extend its range. When the lithium ion battery is fully charged -- which takes about 6 hours on a 110-volt outlet -- the Volt can drive 40 city miles on electricity alone.GM executives say the automaker realistically could produce the vehicle and sell it by the end of the decade, but they stop short of making any promises."Both we and the battery companies are very confident this can be done," says Bob Lutz, GM's vice chairman and head of product development. "We're going to charge off on the vehicle and then work with the battery companies as they approach a product."The minute we're done with the vehicle and the battery companies can give us a battery that meets all of our requirements, we will go into production."Lutz says the public craves this sort of vehicle because of increasing environmental awareness, urban congestion and uncertain fuel prices."Charging it overnight at an off-peak hour, compared to paying $2.20 a gallon for gasoline, it would be about one-third the cost," he says.The Volt could perform at a top speed of 100 mph without drawing down the electric engine, Lutz says. A driver who stayed within the 40-mile distance limitation would never have to buy gasoline for the life of the vehicle. The battery is expected to last 10 years and is environmentally safe to dispose of, Lutz adds.GM has not presented a business case to its board of directors for building the Volt yet, Lutz says. He says it's too soon to project the potential profitability or production costs.If GM does build it, however, it would be sold in a small volume initially. Therefore, the cost of the program would likely hold under $500 million, Lutz says. By comparison, GM spent $2.3 billion to develop its full-sized-truck and SUV programs.GM has been working to develop the Volt for more than a year using its E-flex technology. That technology uses electricity as the primary source to propel a vehicle but offers a back-up engine that generates energy when the electric engine loses power. The concept vehicle contains a 12-gallon fuel tank, Lutz says.A large lithium ion battery is needed to make the concept a reality, Lutz says. The battery would be as large as nearly 400 pounds. Some experts predict such a battery could be production-ready by 2010 to 2012. GM's electric-vehicle concept is built on modified future architecture. But a production version most likely would be based on the automaker's next-generation compact architecture, which will be used for the next-generation Chevrolet Cobalt, says Lutz.You may e-mail Jamie LaReau at jlareau@crain.com

GM unveils Chevy Volt concept, plans to build it by decade's end

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