In the video above, GM's Bob Lutz says "we made a mistake" on hybrids because GM did not think it would be "important." Well, not exactly a mistake the way Bob puts it because there were "legitimate reasons." Bob says U.S. corporate structure with their "fiduciary duty" would mean going to the board to green light a "multi-hundred million dollar program that was going to lose money" and that would be difficult, of course. While at Toyota, where the "name is on the building," the "quasi-owners" can say "I want to build a hybrid and I don't care if it costs me a couple of hundred million dollars."

Don't worry about GM losing the mantle of "technology leader of the world" because of that "one" car from Toyota. Why? Bob says the Volt could be "perhaps the world's most fuel efficient vehicle that has the highest range on batteries only." Just the world Bob? Does anyone in the car industry under promise?

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[Source: Reuters]

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