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SCOTT JAGOW: Today, we’re expecting to hear what General Motors has in mind for the future. At an event in Los Angeles, CEO Rick Wagoner will tell the world about GM’s plans for fuel-efficient vehicles. This doesn’t mean resurrecting the electric car necessarily, but it could be close to it. Sarah Gardner reports from our Sustainability Desk.
SARAH GARDNER: GM will reportedly unveil plans to develop the kind of fuel-saving cars that have helped Toyota speed past the competition.
The automaker won’t reveal details, but GM’s been working on a new series of gas/electric hybrids. It’s also developing a plug-in hybrid under the code name I-Car.
Analyst Jesse Toprak says GM may have pulled the plug on its electric EV-1 in the ’90s but times have changed.
JESSE TOPRAK: Right now the opportunity is a lot bigger for GM and also the pressure is bigger as well. The marketplace is really demanding gas efficient vehicles and alternative technologies.
Toprak says even GM execs would admit today that zapping the EV-1 was a big mistake.
Environmentalists are cautiously hopeful about the company’s green car plans, but don’t expect GM to give up its gas-hogging SUVs anytime soon. After all, that’s still where the profits are.
I’m Sarah Gardner for Marketplace.
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