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| Posted Nov 4, 2005 PT |
GM plans to compete with Toyota in the hybrid car market
Talking to reporters about the enhancement of Toyota's image brought on by its investigation of hybrid technology, GM vice chairman Robert Lutz stated his company's interest in the hybrid market, to which General Motors will introduce a range of vehicles in 2007, but Lutz also voiced concerns about profit, which has proved elusive in the production of hybrid vehicles.
See more articles like this one at www.TechnologyNews.info
Original news summary: (http://www.theoaklandpress.com/stories/093005/bus_2005093005.shtml)
- Prodded by Toyota's success, General Motors Corp. is putting more emphasis on development of hybrid, gas-electric vehicles.
- Advertisement Robert Lutz, GM vice chairman and the executive responsible for product development, told reporters visiting the Milford Proving Ground for a look at the company's 2006 model line that GM is now "pouring on the coalsē in the development of hybrid vehicles.
- GM's management has been skeptical about the utility of hybrids, given their extra cost, complexity and weight, because of the dual powertrains built into each car.
- However, even though Toyota is probably still losing substantial sums on each hybrid-vehicle it sells, the Japanese auto giant has gotten a big lift from the technology, Lutz acknowledged.
- Last week, Toyota did kick off a new corporate advertising campaign featuring its hybrid technology, which the automaker's executives have said they expect to turn into a profitable business in the near future.
- Lutz said Toyota clearly took a broad view of the potential of hybrid technology that encompassed major benefi ts from introducing the technology even if the company lost money on selling individual vehicles, Lutz said.
- GM chairman Richard Wagoner also has been quoted as saying that GM would not build a vehicle unless it could make money on it.
- GM now plans to bring out a hybrid version of the Saturn Vue next summer, and will introduce hybrid versions of its full-size pickup trucks and sport utility vehicles in 2007.
- Vehicle engineering would no longer be allowed to dictate a vehicle's proportions if it stood in the way of a great design, said Lutz, who added that GM also is developing a genuine global product plan.
- Kerkorian now owns about 10 percent of GM's outstanding shares, making him one of the company's largest individual investors.
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