Lutz: GM is OK with losing money on the Volt for a while

According to Bob Lutz, General Motors has known how to make a hybrid for years, but held off of building one because they projected that they would lose as much as $250 million per year building them. What they hadn't counted on, though, was that a huge perception gap would grow in the public eye between GM's technological know-how versus Toyota's, a gap that would end up costing the company much, much more than $250 per year. So Lutz is now clear they won't make that mistake again. "We won't make a dime on this car [the Volt] for years, and the board is OK with that." The unanswered questions remain: just how much is the Volt going to cost, and how much of a loss will GM take on each one? The answers to those important questions will surely make or break the future of the range-extended plug-in hybrid project from GM.

[Source: The Detroit News]