We'll be keeping an eye out for GM
CEO Rick Wagoner's upcoming speech which was announced this week. The speech will be on GM's strategy to beat Toyota
at developing and selling green cars
. A source in the know from GM told Bloomberg News
that Wagoner will deliver a speech before the end of the year on how GM will use some of the $9 billion it saved by cutting costs and eliminating jobs over the past few quarters to produce cars and trucks that match Toyota's offerings in technology and fuel efficiency
. These steps include plug-in hybrids
, more efficient ICEs, hydrogen fuel cells
vehicles and more.
Doesn't there seem to be a bit of desperation in leaking that GM's big strategy is to match what Toyota is doing? GM isn't even going to try and beat Toyota, just catch up? All right, GM, do it your way. You should know what you're doing. After all, you are losing millions each quarter.
[Source: Bloomberg News / Jeff Green via Detroit News]