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Posts Tagged ‘tea party’

Chrysler Withdraws Federal Green Car Loan Request

“Why am I bothering?”

by on Feb.17, 2012

Chrysler/Fiat CEO Sergio Marchionne hinted to reporters at the 2012 Detroit Auto Show he might withdraw the DoE loan application.

Chrysler Group LLC has withdrawn its application for an Advanced Technology Vehicles Manufacturing loan from the U.S Department of Energy.

The maker originally had hoped to receive as much as $7 billion through the program, designed to assist in the development of advanced, high-mileage powertrain technologies – in the process reducing U.S. dependence on imported petroleum.  It applied shortly after emerging from bankruptcy in 2009, but distribution of funds has largely been put on hold as the ATVM program has become caught up in Washington’s increasingly partisan politics.

Your Inside Source!

Ford was able to secure a loan, as was Japanese automaker Nissan and a number of solar panel manufacturers and battery companies.  However, the loan program, which was signed into law by President George W. Bush in 2007, has come in for heavy criticism from tea party Republicans after the bankruptcy of Solyndra, a Calfornia-based solar panel manufacturer, which received a $500 million loan.


A Less Expensive Chevrolet Volt?

GM says costs are coming down, so it begs the question.

by on Jun.22, 2010

Two high-mileage vehicles, the Chevrolet Volt and the Chevrolet Cruze.

General Motors still has not announced pricing for the Chevrolet Volt, but there are indications that cost might come in lower than originally anticipated.

Micky Bly, director of electric vehicle programs at GM, told an audience at last week’s Green Car Conference that prices for some of the Volt’s key components might be lower than expected.

“We’re seeing significant downward cost pressure on these suppliers,” Bly said. He added that in some cases, the price reductions are about three to five years ahead of GM’s expectations.

Still, to make the Volt and other battery-electric vehicles viable, Bly said the industry needs to do more.

“We have to drive the technology costs down,” Bly said.

No Subsidies!

Prabhakar Patel, CEO of Compact Power, agreed, saying at the conference that the fledgling battery electric vehicle industry should not count on government incentives for more than four to five years.

Already there are signs of a taxpayer revolt. See Ken Zino’s Taxpayers to Subsidize EVs and Charging Stations. (more…)