U.S. Department of Energy funding for Chevy Volt on hold
But because the company itself hasn't passed the financial viability test in order to simply survive, the administration has put GM's $10.3 billion request on hold. The government deadline for GM to prove financial viability is June 1, and since it will probably take all of that time, GM can't look for any other cash assistance to continue product development until that matter is resolved.
GM says that the government decision won't stop the Volt from going on sale in November 2010. Outside analysts suspect that GM plans to pay for the Volt with money from other programs.
[Source: Automotive News - Sub. Req.]
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