Chevy Volt Cost $750 Million to Develop
It’s no wonder car companies ran out of money! GM for starters, has poured no less than $750 million into developing the Chevrolet Volt. Rick Wagoner, GM’s CEO testified that the Volt is going to enter production for 2011 although it won’t be cost competitive by that time.
Well that seems to be true. GM invested a huge chunk of that money in developing the battery which is a very important part of a hybrid. Will GM recover the losses? Well it probably will only not now. And who knows who’s going to own GM by then?
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