BREAKING: Bipartisan Auto Aid Deal Reached

Details are unavailable but there is word from Democratic Senator Levin’s office that a bipartisan deal has been reached to fund an automaker bailout. It appears the compromise will involve providing funds from the energy department that were earmarked for retooling.
It is also unclear if there would be enough support to get it [...]

Its Down to the Wire for GM

Last night, the Senate canceled and essentially terminated any chance of getting GM, Ford, and Chrysler loans from the $700 billion Wall Street Bailout or TARP fund.
The last chance it seems for funding, and likely for survival, will be the slim possibility of both the Senate and the House of Representatives voting favorably, and Bush [...]

Detroit 3 CEOs Chastised by Congress: Loan Hopes Dim as Senate Cancels Vote

Today the CEOs of GM, Ford, and Chrysler, and the UAW president spent a second day testifying on Capitol Hill. This time before a House committee.  They continued to plead their case of catastrophic national economic repercussions if they were allowed to fail.
In response, the CEOs were chided by congress for taking corporate jets [...]

Automakers Are Running Out of Time

Despite the intense pleas from GM, Ford, and Chrysler yesterday at the Senate Banking Committee, Washington’s reception to the automakers has been cool.
Reports indicate that the Senate will not have adequate votes to pass the legislation, and may not even vote on it. To the automakers Senator Dodd stated “You’re asking an awful lot, [...]

Auto Company CEO’s Testify Before the Senate

Today the CEO’s of GM, Ford, and Chrysler testified before the Senate Banking Committee trying to secure aid for their respective companies.  Present as well was the president of the autoworkers union.
GM’s CEO Rick Wagoner warned them apocalyptically “this is about much more than just Detroit. It’s about saving the U.S. economy from a [...]

Are Chinese Automakers Considering Buying GM and Chrysler?

As the US automotive financial crisis continues, and the US government debates whether to bail out GM and the other automakers, foreign governments are apparently developing their own plans.
Just reported in a leading Chinese newspaper is a report that Chinese automakers SAIC and Donfeng have developed internal plans to buy GM and Chrysler assets.
Considering GM’s [...]

The Automaker Bailout Congressional Debate Has Begun

Since January 2007, the goal of this site has been to be the definitive source of news, information, and discussion about the Chevy Volt.
The possible and imminent failure of GM is the most important news right now, whether we like it or not.  I wish we could simply be happily discussing the Volts features, progress, [...]

Production Volt Interior Further Refined: Center LCD Screen, Center Stack Buttons, and Vents

I had some further discussions about the Chevy Volt’s interior with chief designer Bob Boniface.  He advised me that the production interior design has undergone some further refinements. This images above reveal those. The older design is at the post bottom.  You can download the high-res image here.
Are the interior interfaces finalized?
Stylistically it looks mainly [...]

GM CEO Calls Chapter 11 Bankruptcy Filing a “Fantasy”

This week is expected to bring a heated and fierce exchange in Washington, seemingly pitting Democrats against Republicans in one last gasp of the lame duck Congress.
The $25 billion automaker bailout bill will be presented on the Senate floor tomorrow morning.  Today on the talk show circuit many Republicans were dooming it to failure. [...]

How the Chevy Volt is Expected to Beat the 100 MPG Designation

The New York Times has now taken a stab at the Volt fuel efficiency rating debate. As we know, the car will drive for 40 miles on battery without gas (charge depleting mode), and then 50 mpg thereafter should it need to, up until the point it is recharged (charge sustaining mode).
The article states [...]

Pelosi Lays Out Conditions For Automaker Aid

House speaker Nancy Pelosi (D) plans to introduce legislation to the House of Representatives next week to assist the automakers.
Today she issued the following statement laying down the conditions for such aid. She also signaled her continued insistence the aid be from the TARP and that the previously earmarked $25 billion retooling loans [...]

Auto Bailout Bill Will be Brought to Senate on Monday

Sen. Harry Reid

The Democrats plan to give aid to the automakers out of the $700 Wall Street Bailout has met opposition from the Bush administration and Republicans in Congress. However, despite the previously expressed risk of not being brought to the floor, it is now being reported that the bill will arrive in [...]