Where can you go to find in the same room a ping-pong tournament, a brick manufacturing company, T-shirts saying “kale is the new meat” and a wide ranging conversation about trends in institutional investing? One place only: SXSW Eco.
General Motors Co., facing disappointing Chevrolet Volt sales, cut the starting price of the plug-in hybrid sedan by $5,000 to compete against the less- expensive and better-selling Toyota Prius and Nissan Leaf.
General Motors Co., which loses money on every Chevrolet Volt it sells, wants to cut as much as $10,000 per car from the model’s production cost to make the next generation of the plug-in hybrid affordable and profitable, Chief Executive Officer Dan Akerson said.
Buyers of General Motors Co.’s 2011 Chevrolet Volt won’t get California’s $3,000 rebate for the most advanced cars while Toyota Motor Corp. ’s Prius plug-in hybrid that can’t drive as far without gas qualifies for an incentive.