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GM has submitted a new request for government loans to spur development of hybrids, revealing that it plans to develop at least two other variants off its Voltec technology.
The General asked for $2.6 billion in low interest government loans to support the development of three hybrid vehicles, the 2011 Chevrolet Volt and two spinoffs using the Voltec technology that underpins the Volt. GM has now requested a total of $10.3 billion from the Energy Department to aid in the research and development of more fuel efficient vehicles.
GM has said previously that it plans to use the Voltec technology in other vehicles, but until now there has been no mention of how many vehicles could possibly see the technology. The announcement seemingly solidifies the future of a production Cadillac Converj, if GM survives its current predicament, and brings into question whether Buick or GMC will see an EV in the future.
So far, no money has been distributed from the $25 billion the Energy Department was granted to encourage development of fuel efficient vehicles. Until the Energy Department finishes its loan application reviews, it is unknown which companies will receive funds.
Source: Reuters
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