Obama's Own Report on GM Says Plan to Build Non-Gas-Burning Car Would Not Save Company

The report on General Motors released by the White House says the company’s restructuring plan will not lead to a stronger company, in part because the beleaguered auto giant’s proposal to rely more heavily on advanced, fuel-efficient cars is not commercially viable. The report’s findings stand in stark contrast with the President’s chief goal for America’s auto industry: leading the world in green car production. Among the assumptions the report finds unrealistic is GM’s plan to place greater emphasis on advanced, ultra-fuel efficient vehicles such as its upcoming Chevrolet Volt, the all-electric car that the report found will not be commercially viable. “While the Chevy Volt holds promise, it will likely be too expensive to be commercially successful,” the report said. “It is currently projected to be much more expensive than its gasoline-fueled counterparts and will likely need substantial reductions in manufacturing costs in order to become commercially viable.”...CNS News