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GM's CEO Touts Affordable Electric Cars In SF Stop

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May 1, 2008 8:15 pm US/Pacific

GM's CEO Touts Affordable Electric Cars In SF Stop

SAN FRANCISCO (AP) ― General Motors Corp. Chief Executive Richard Wagoner said Thursday that global warming is not going to be solved with $100,000 electric cars, and his company is focusing on a vehicle more consumers can afford.

Wagoner spoke to the Commonwealth Club of California in San Francisco on the topics of global warming, ethanol availability, and rising gas prices.

Global warming needs a solution that can "significantly shift the fleet of vehicles to different fuels or different propulsion technologies fairly rapidly," he said after the event.

So why is it taking so long to launch the plug-in electric Chevy Volt?

"Frankly it's one thing to develop a technology for a car that's going to cost $100,000, it's very different for a car that's going to cost $20,000," Wagoner said.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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