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Technology Stocks : The Electric Car, or MPG "what me worry?" -- Ignore unavailable to you. Want to Upgrade?

To: letsmakerealcash who wrote (126)	6/6/2007 4:08:44 PM
From: Tadsamillionaire	Respond to of 17758

GENERAL Motors has awarded contracts to companies to help speed up development of its plug-in electric car the Chevrolet Volt, chairman Rick Wagoner said yesterday. Mr Wagoner, speaking at the company's annual shareholders meeting, also said GM would introduce four new hybrid models this year. The contracts to design and test lithium-ion batteries went to Michigan-based Compact Power and to Continental Automotive systems, Mr Wagoner said. "Given the huge potential that the Volt and its E-flex system offers to lower oil consumption, lower oil imports and reduced carbon gas emissions, this is for sure a top priority program for GM," he said. The Volt, unveiled in January at the Detroit auto show, has a battery-powered electric motor that can run the car for up to 64km on a single charge. Beyond that, a petrol-powered, one-litre, three-cylinder engine can generate electricity to replenish the battery, giving the car a range of up to 1030km, GM said. GM's announcement came as Honda said it will discontinue the hybrid version of its Accord sedans, conceding Toyota's dominance with the hit Prius hybrid. GM shareholders voted down a series of stockholder initiatives, including a bylaws change proposed by the Community of the Sisters of St. Dominic of Caldwell, New Jersey, that the company set goals to reduce greenhouse gas emissions and improve fuel efficiency.