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Volt Nation VIDEO: Bob Lutz Answers Questions
March 21st, 2008 | Posted in: Volt Nation Video
This video segment features GM vice chairman Bob Lutz taking questions from the Volt Nation attendees. He talks about the rationale for GM taking a risk on the Volt. He also discusses how GM made a mistake in not developing hybrids at an earlier time as Toyota did. He describes the Volt as a performance car, and mentions possible aftermarket chip changes to incerase the car’s acceleration for those who might want that, and talks about what kind of engine sounds the car might make.
He also takes on my how confident are you question.
Popularity: 3%
(7 votes, average: 5 out of 5) 
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Posted by: Lyle
43 Responses to “Volt Nation VIDEO: Bob Lutz Answers Questions”
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March 21st, 2008 at 8:06 am
I’m getting a "this video is no longer available". I really wanted to gauge how serious Lutz was about the engine sounds. I sure hope they don’t give the Volt fake engine noises simulating an ICE accelerating.
One of the things I’ve come to appreciate about BEVs is the utter silence during cruising, it’s almost intoxicating.
March 21st, 2008 at 8:14 am
Me too. But they’re real sorry about it.
March 21st, 2008 at 8:51 am
It worked for me…
March 21st, 2008 at 8:51 am
It’s working now.
March 21st, 2008 at 8:52 am
It’s 9:51 Eastern time, and I just saw the video.
Bob is a very knowledgable man, but also a very entertaining speaker. With these videos on YouTube, I expect VoltNation is going to get even more attention.
Thanks again Lyle for such a great opportunity!
March 21st, 2008 at 8:54 am
I just finished watching the video. The problem has apparently been resolved.
The most interesting part of the video was the question regarding pricing and the Bob Lutz answer. Thanks for the video and to whoever it was that asked the question.
I am truly encouraged!
March 21st, 2008 at 9:15 am
I’m optimistic not just about the Volt, but about GM as a whole now. It will soon reap what it has sown with the last 7 years with Bob Lutz driving product development.
March 21st, 2008 at 9:26 am
Bob, You ROCK!
March 21st, 2008 at 9:46 am
My new favorite Bob Lutz quote:
"General Motors needs this car!"
March 21st, 2008 at 9:53 am
Some of my thoughts on Bob’s comments…
1. Always nice to hear an increase in confidence. I think it is most prudent for us to realize though that set-backs are inevitable and unforseeable. He hit the nail on the head when he said, "We don’t know what we don’t know". Many people are ready to fold as soon as they see for instance a delay with the mules, or a delay with obtaining battery packs, etc. Delays will happen and new challenges may arise. It is great to hear that they don’t seem particulary rattled by any of the challenges that have occurred so far and are more than willing to offer what ever financial or technological resources are needed to keep this project moving forward.
2. "When you do bold things, you win!" It was refreshing to hear that not only Bob, but the sum of the GM organization has adopted this creed as their own. Looking at the Volt as evidence, you can see that this statement isn’t just talk. Well said.
3. I appreciated the comments regarding hybrids, and that the Company sees in hindsight that it was a wrong move to have by-passed the technology at the time. It made sense that for the management, (not having the luxury of a crystal ball) made a decision and went with it, hoping they did the right thing, and hoping the shareholders would be appeased. This is a much, much more difficult balancing act then many people realize when a Company is driven by share price. It was nice to hear such a frank and thoughtful admission on behalf of his Company, and their new posture towards fuel efficient vehicles.
Excellent video and thank you for sharing Lyle.
March 21st, 2008 at 10:18 am
http://glickreport.blogs.foxbusiness.com/2008/03/20/gms-car-czar/
Bob says he’s now hoping to keep the price of the Volt under 40,000.
March 21st, 2008 at 10:25 am
I really look forward to seeing the rest of the videos. Very interesting to hear Lutz talk about the challenges of pursuing new technology as a publicly held company. I’ve been stressing this for quite some time (maybe like a broken record to some…), and have been worried like a lot of people that the board might kill this car.
After hearing Lutz talk about even the the "old school" members of the GM family now being convinced that it’s good to take some chances rather than always "playing it safe", I’m convinced that the Volt will be a reality. I look forward to seeing the part I heard about where Weber iterates 100% confidence in production of the Volt.
This is dynamite stuff. Thanks.
March 21st, 2008 at 10:40 am
#11 Dan:
Aaaarrrrrggggh!
Did anyone see anything about a Subaru plug in? The headline in the automotive section of the local paper caught my eye as I ran out the door this morning, but I didn’t have time to read the article.
March 21st, 2008 at 10:57 am
GM definitely has the right leaders in the right positions.
I believe the new CAFE standards will allow GM to recoup their investments eventually, because everyone will have to buy these vehicles, and not stick with the old gas guzzlers.
March 21st, 2008 at 12:10 pm
I might add that the idea of going with hybrids was a whole lot easier for both Honda and Toyota (the only two companies who did) who had pockets full of cash that GM did not. A mistake by GM would be much more costly than one by either of the two Japanese giants. I also note that people who criticize GM don’t seem to realize that there are dozens of automakers out there who made the same decision that GM did. Trying to predict future gasoline prices over the next decade is a fool’s mission and has been since the original 1972 gas crunch. GM has nothing to apologize for in making their original decision. For years, Toyota and Honda both took losses on their hybrids, and so few were sold that their effect can rightly be called "insignificant." Those who cheer Honda and Toyota have no proof that their decision made
any difference to anybody. Looked at in that fashion, with GM ready to produce more (and better) hybrid models than either Honda or Toyota, I’d say GM closed the "hybrid gap" pretty quickly.
March 21st, 2008 at 12:20 pm
Funny how one day makes a different. When we were at Volt Nation on March 19, they didn’t give us a price and said they were still looking at it. The very next day, March 20, Bob Lutz is saying hopefully it will be under $40K. So much for the masses being able to afford it. This is a real shame. Isn’t the cost of the Prius about half of $40K? How does GM expect to compete?
November 2010 is a couple of years away. Things can always change by then and hopefully the price will take a significant dive.
March 21st, 2008 at 12:42 pm
We can blame investors on Wall street for the price of fuel just a much as we can the oil companies. Here’s a quote from an article on MSNBC:
Big oil companies can continually miss their targets or even target no growth and still shine on Wall Street due to the peculiar nature of commodity businesses. Less supply of a commodity means higher prices. Higher oil prices mean more profits for the oil companies. Exxon shares have risen 21% in the past year
… there’s a "duh" if I’ve ever seen one! I sure am glad that GM isn’t traded on the commodities market. The VOLT would cost $150,000!
March 21st, 2008 at 12:44 pm
GM has already stated that they’re going to take a loss on the first few Gens. I’m wondering how much of a loss do they take to keep this vehicle in the 30k range? Maybe they just need to work this out, and yes anything can happen by 2010.
March 21st, 2008 at 12:44 pm
As long as they sale out then I don’t see the Volt as being over priced. Hopefully the price will drop over time. Other companies will start to produce competeing technology and you can bet your bottom dollar they will come in significantly under the initial GM price.
Things that appear to good to be true generally are… maybe the high price is what will be the unseen negative that rears its ugly head with the Volt.
But I am confident either the Volt (E-REV) or its competitors will be/become much cheaper in todays dollars.
March 21st, 2008 at 12:47 pm
Lutz called the Volt a "performance" car. Volt Nation comments indicate 8-9 second 0-60 times. People started whining about 9 being too slow and hoped it would stay closer to 8. I timed my ‘94 Geo Prizm at a stop light today doing significantly harder acceleration than normal, but not quite 100%. It did 0-60 in 22 seconds and I was a hundred feet in front of the guy in the other lane. Somebody explain to my again why 9 seconds is "too slow". I’m not getting it.
March 21st, 2008 at 12:49 pm
Presumably they make just a couple thousand of these things in 2010, gradually ramping up production and cutting the price. A potentially large government rebate for this thing could soften the bl0w. Whenever a huge new technology is produced, the time until mass-production and the cost are always higher than originally expected. The key is that it will be produced and maybe in a decade it becomes truly economical and widespread.
March 21st, 2008 at 12:49 pm
wow…so excited bumper sticker that i voted on are here.. cant wait to get mine…
March 21st, 2008 at 1:06 pm
If the US government is serious about reducing our dependence on imported oil, then they should give both rebates on the car and participate in the warranty of the batteries. The payoff in dollars and security.
March 21st, 2008 at 1:09 pm
GM deserves credit for seeing the "writing on the wall." But, it is a The Volt is a necessity. Praise Mr. Lutz personally, if you must. But, clearly, it is as matter of survival for GM.
If GM put a billion dollars into developing the Volt and they plan on producing 10,000 Volts in the first year, then, to make the Volt program profitable in the first year, GM would need to sell all 10,000 Volts at $100k each. That probably won’t happen. The first 10,000 Volts will not recoup the investment. So, we should stop asking GM if the first Volts would be sold at a loss. Of course they will. Initial pricing of the Volt will be based on what the market will bear, with an eye towards building market penetration and long-term profitability. If GM sold 100k Volts at $$30k each, GM would realize three billion dollars. How long would it take to sell 100k Volts? With a good product, GM could do that in a few years. So, GM could easily sell the Volt at an affordable price.
I’m probably way off about GM’s Volt investment. But plug in your own numbers and produce your own estimate of the time it will take for the Volt, and its progeny, to become profitable. Maybe fears about a $40k Volt will subside. GM needs data on how much we are willing to pay for a Volt. At least we keep telling GM that $40k is too much. I’m surprised that a lot of people here are telling GM that $30k is acceptable. How much is the Prius, or other competitors’ products, going for? $20k to 25k?
March 21st, 2008 at 1:58 pm
When people talking about the taking a loss on a item. Many assume it that item. I’m going to assume that he was talking about the Volt parts within another hybrid cars. I’m sure GM is going to Spread the loss to other hybrid cars to redue the risk of that lost or shorten the time frame of that lost.
March 21st, 2008 at 3:01 pm
$40,000 !! You could run a Civic or Carolla for YEARS before you would burn up enough gas to make up the difference.
March 21st, 2008 at 3:06 pm
Ron #20:
RIGHT!!!
#26 Rockyroad:
Alas, too true. I think that plenty of people here would be quite willing to pay a substantial premium to make a statement about the use of imported oil, and all of the political and economic impacts that flow from it. But $40,000 is really pushing it. It took me about 2 months to get over $35,000. This is going to be a lot harder.
March 21st, 2008 at 3:56 pm
Ron #20
I think they’re playing conservative, because I believe it’ll be closer to 8 sec. But, even if it’s 9 seconds I guarantee you that not only will this feel faster than an ICE car with the same 0-60 time, it’ll definitely reach 40 faster due to a much better torque curve.
FWIW the EV-1 weighed about the same as the Volt is projected to weigh…about 3100 lbs. The EV-1 had a 135 hp motor and reached 60 in about 8, the Volt has a 160hp. The EV-1 was more aerodynamic than the Volt so it may reach 60 or even 100 faster, but there’s a chance that the Volt could reach30- 40 faster.
One nice thing about instantaneous torque is how fun it is to drive. The Germans have a saying … "it’s not how fast you go, but how well you go fast".
March 21st, 2008 at 5:06 pm
Rockyroad #26 and Noel, #27.
This is my concern as well. My Elantra cost em $13.5 out the door. I would have to buy $26,500 worth of gas to get to $40K.
At todays price of $3.37 p/gal, that is 7,863.5 gallons of gas. My car gets 31 mpg at 30,000 miles a year, I use 967.74 gallons a year. It will take me 8.1 years to break even on gas. This assumes gas stays at $3.37 p/gal. It won’t stay that way, but you get my meaning.
March 22nd, 2008 at 12:06 am
Grizzly #28
Dr. Weber could NOT wipe the smile off his face when they talked about the torque out of the blocks.
March 22nd, 2008 at 1:42 am
#29 Rashid,
Your calculation seems to assume that the Volt is free to run. If you are driving 30,000 miles a year then you will be burning about a gallon of gas and $0.8 in elect each day (assuming you can only charge once per day). Say that is about $4/day or $1,460/year. So you would "only" save $1,800/year with the Volt.
That makes the breakeven point just under 15 years. As the battery/car likely won’t make it that long, you will almost certainly never break even. (If you can charge twice per day the breakeven point would be ~10 years.) However if you bought the Volt you would also have ~$26,500 more debt on which to pay interest. Or, if you bought the elantra, ~$26,500 more money on which to make interest. If you made even 5%/year that is $1,325/year, or ~$16,600 more money in your pocket after 10 years.
The Volt has to be about getting off of oil, because at this time it makes no economic sense at all.
March 22nd, 2008 at 10:13 am
Honestly, to gain traction, the Volt needs to be under $30k. The Prius starts at $21,100 and the Nissan 350Z starts at $28,120. Like it or not, these are the alternatives to Volt, from a consumer standpoint (me). Whether GM plans to position the Volt in the market as a performance car (wrong strategy in my opinion) or as a stylish alternative fuel vehicle, it needs to have mass appeal. A price over $30K is not for the masses. This is a new technology with incredible opportunity in the future and GM needs as many people to adopt it as possible. Over $30K for a car will limit the market for this technology and will slow adoption. I would love to own one of these cars when they come out, but the value doesn’t compute over $30K with Chevrolet branding.
And regarding the previous post about acceleration, the point of electric cars should be to save energy. As long as it has better acceleration than an Aveo, I will be happy with the sleek looks and cheap running costs.
March 22nd, 2008 at 10:51 am
Baseman, GM believes they have hit upon a solution that saves a lot of energy yet can still be a good performing car. They have made some compromises in their approach to keep performance and have also expended great effort to improve range. They pretty clearly stated that they want to do well on both fronts without sacrificing one too much for the other. I think buying patterns clearly support this approach, despite my personal preferences.
March 22nd, 2008 at 11:17 am
Mr Lutz’s statements about winning and losing could not be more correct. A perfect example is Apple.
From ‘86 to 97′ the company was "run by the numbers" … a hodge-podge of administrators, bean counters, and lawyers making all safe decisions. And by the end of that period, the company was almost bankrupt and their public image was in the toilet.
In ‘98 Apple got a completely new management team willing to listen to customers and make bold decisions/products. The result has been ten years of success, terrific products, and a stock price that has increased 20x (yeah, 2000% :-).
IMHO, the exact same type of thing is happening at GM.
Also of interest … with Apple it took the general press/public about five years to notice each change, so most opinions were five years out of date. The "Apple Is Dead" articles continued until about ‘02.
IMHO, the same is true with GM. They’ve been making good decisions for a few years now, but most people haven’t noticed that yet. So GM’s public perception on most forums (not this one) is still in the toilet. As evidence, consider the overwhelming negative feedback these videos will probably get on YouTube.
Based on this, assuming GM continues to make bold decision, I predict public perception of GM is about to improve drastically.
March 22nd, 2008 at 12:04 pm
Baseman,
I totally agree with the <30K price being necessary to prime the pump of widespread adoption of this technology. That being said, there’s nothing wrong (IMO) with having a fun element there to lure even MORE people to the party. The general population (present company EXcluded) may associate great gas mileage with lower performance (gotta give something to get something), but a few commercials with the VOLT leaving a, ahem, Prius at the red light may change some minds (wink)
March 22nd, 2008 at 12:12 pm
GXT, #31. My bad. You are right. But this means it is worse than I thought.
You are also correct about the reasons to buy it.
My reason for buying the car isn’t really economic. I hate the oil companies, and I hate terrorism. Everytime I buy gasoline and home heating oil, I am helping both. I think about the cost of that on myself and on our society.
March 22nd, 2008 at 12:22 pm
Why is everyone so excited to receive another government subsidy at the cost of the American tax payer (ME). I like the Volt concept and may drive one. However, no other tax payer should be required to chip in for my Volt.
Lets encourage private market to do as it does best and allow it to solve Americas oil burden via profit seeking. If you want the government to solve our energy crisis tell it to stay out of private endeavors to harvest wind, drill for oil on our soil, produce refineries and perhaps progress nuclear fuel sources.
Aside from national security name one thing big government does well or with profitable results!
The concept of the Volt is incredible. When its attached to a renewable fuel source it’ll be tops. Ron
March 22nd, 2008 at 1:09 pm
NoBlanks #36
The US govt (and nearly ALL others around the world) have assisted in providing an economic boost or incentive when things like this are proposed. If the govt doesn’t provide some sort of support to risky high tech ventures, why then would GM even attempt to dump billions of dollars into an "idea" that if it doesn’t pan out, may sink the company permanently? Would you do this on this scale?
Profit seeking without some control and focus gets you what is happening in Russia right now. It gets you charlatans that will sell crap to uneducated and trusting people. It gets you raping the environment like China is doing. Who chooses where to put the next big refinery, nuclear power plant, oil well? Next to you? Down the street? It becomes truely buyer beware, become an expert in EVERYTHING or else be taken advantage of.
I get tired of people acting as if the govt is the enemy. It certainly has its problems, but considering the quality of life in this country compared to most of the world, I wouldn’t change a thing. We produce more, are more productive, give away more, have more stuff, have more at our disposal than probably anyone in the world. I am not about to claim our govt hasn’t had a role to play in this success. As well as our people.
Our govt has its positives and negatives. I have no problem with people looking to improve upon the negatives. I dont accept well people that dont take a larger view. Sorry.
The govt subsidizes, or gives tax credits, to thousands of things. I probably have a problem with a majority of them. But I wont sit here and say that some of them are not warranted. I put the Volt easily in that catagory.
March 22nd, 2008 at 1:27 pm
LET’S JUST GET THE VOLT’S WHEELS ON THE ROAD!
March 22nd, 2008 at 1:36 pm
Sorry, Tagamet. I’m cleaning out an attic.
I guess the dust got to me!
We need to see the production car design. I was a <little> disappointed we didnt get a better view at the meeting.
March 22nd, 2008 at 1:47 pm
No problem (puts down whistle) I too was disappointed in not seeing a mule or something. I DID see a couple of horses arses though (wink)
March 22nd, 2008 at 1:58 pm
NoBlanks, #37
IMO, big government doesn’t do anything well.
But the US government sends billion upon billions of dollars to foreign governments. This money is our money. It is about time the US government gives our money back to us. I want those tax credits. They could fund it by not giving so much away to those foreign governments.
Honestly though, no one would force you to take the tax credit. You could always decline it or give it back. If you do that, can I have it?
March 23rd, 2008 at 2:56 pm
I’m very excited for the Chevy Volt to come out. I’m glad it is gaining in popularity and that the progress is moving along on getting the electric car to market. I’m crossing my fingers that GM will do the right thing and market the Volt so that many people can buy one. It would definitely strike a blow to the oil companies if they do. It would also make gas more of an option in terms of powering your vehicle instead of "the" option as it stands now. Plus, with an electric vehicle there are more than one way to generate electricity as opposed to one way to get gas. Go GM and keep pushing the Chevy Volt. Revolutionize the world.