General Motors is getting closer to the day it takes that financial plunge and once again offers its stock to the world. The day of the IPO, which is speculated to occur in November, will be a very important day for the future of GM. If it goes well, it will provide the automaker with a massive infusion of cash, much of it which figures to be used to repay the government. The money could also be tucked away into the General's treasury where it can serve to fund product development. One such area of development? Electric vehicles.
GM is finally getting ready to release the Chevrolet Volt upon the waiting world, and early demand for the vehicle is high. However, the technology's long-term financial viability at GM remains very much in doubt, and according to TheDetroitBureau.com sources, while other Voltec programs are being explored, nothing has been approved yet because executives and board members are waiting to see how the IPO affects their research and development budgets.
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[Source: The Detroit Bureau]