Associated Press
First market
General Motors says the Chevrolet Volt electric car will go on sale late next year in California, with other markets to be announced soon. The Volt, which is expected to cost around $40,000, can be charged in a conventional outlet and is designed to drive up to 40 miles on electricity.
--Associated Press
Fuel battle
Hyundai says the 2011 Sonata sedan will lead all midsize cars in fuel economy, getting 35 mpg highway and 23 city. It will come with a six-speed automatic transmission and a new direct-injection four-cylinder engine. The Ford Fusion is the current leader for gasoline-powered midsize cars at 34 mpg highway.
--Associated Press
1 Comment
By RD Group on December 21, 2009 8:41 AM
R & D Coalition Overview:
Less than 20 car companies applied for $25 BILLION DOLLARS in taxpayer money managed by a certain group of people at DOE in order to get loans to make green cars for Americans’.
There was enough money to help every single one of the car companies that applied. The administrators applied their interpretations of the law in order to benefit the large lobby group-related firms and avoided every one of the “unconnected” companies.
The amount of lobby and influence money spent is in direct ratio to the amount of money awarded.
The smaller companies, due to lower overhead, could have dramatically more productive results with the money than the large burdened companies yet the money was given out based on political career advantages rather technology advantages.
All of the people that reviewed the applications had political and financial connections to GM, Ford, Chrysler and the large Detroit recipients.
Each of those smaller American companies had technology and resources that presented a strong economic threat, if they got the loans, to the large politically connected companies that did receive funds.
Some of the companies that have gotten money have backed out of making the electric cars they said they would make. But they still get to keep the money.
Some of the companies that got the money have already wasted more money than other companies applied for as their total request.
Most of the companies who got money were in dire financial situations
Some of the companies that got taxpayer loan money are not even American companies and/or are doing their manufacturing offshore with non-American employees.
The decision about who would get money was made in 2008 by a private group who then pretended there was a lengthy review throughout 2009 but in fact, the money was pre-wired for a select few.
All of the things that the rejected small companies (who did not pay lobby fees) were rejected for, were the same things that the insider big companies were doing.
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We will continue to keep you updated.
R&D Team