President Obama's task force criticizes the Chevy Volt by stating that it is currently overpriced at $40,000 and needs substantial price reductions to make it commercially viable.
EV fans are not fond of the comments by the task force. The Task force went on to say, "GM is at least one generation behind (principal rivals in alternative power train development). In an attempt to leapfrog Toyota, GM has devoted significant resources to the Chevy Volt. While the Volt holds promise, it is currently projected to be much more expensive than its gasoline fueled peers and will likely need substantial reduction in manufacturing costs to become commercially viable."
As EV fans have stated, all new technology is costly. The Chevy Volt will be a money loser for GM in its early years of production. Further cost cutting measure will be taken later down the road. The true purpose of the Volt is to introduce new technology to the market in hopes that others will adopt the technology which in turn drives down costs and makes one Obama goal feasible.
President Obama recently stated that he wanted to see 1 million plug-in vehicles on the road by 2015. To realistically achieve such a goal, cars like the Chevy Volt will have to be produced. Cars that lose money for a company, but have a larger overall purpose are essential to changing our dependence on fossil fuels.
In the end, the first Chevy Volt may be a money loser for GM and possibly overpriced for the market, but the next generation Volt and other carmakers who follow the Volt could make an economically viable and profitable vehicle available to the masses. It has to all start somewhere.
Source: Wards Auto