The possible bankruptcy of Fisker Automotive Inc., which last week fired three-quarters of its workforce, is the latest blow to President Barack Obama’s goal of having 1 million electric vehicles on U.S. roads by 2015.
General Motors Co., taking steps to head off a potential backlash against the Chevrolet Volt, offered free loaner vehicles to buyers of the plug-in hybrid while it works with U.S. regulators to prevent battery fires.
Toyota Motor Corp. survived a massive recall two years ago and the effects of Japan’s tsunami last year. Now the company faces an unprecedented rush of competitors for its franchise car, the Camry family sedan.
General Motors Co.’s Chevrolet Volt missed its U.S. sales target of 10,000 cars in 2011, the company said. Chevy dealers sold 1,529 of the plug-in hybrids last month, leaving the brand 2,329 shy of its goal.
Mark Reuss remembers the day, 20 years ago, when his father’s career was blindsided. Reuss had a tuxedo hanging in his car to wear that night to a long-planned event honoring his father’s 35-year career at General Motors Corp. when his mother called.
When General Motors Co. announced plans in June 2008 to build the Chevrolet Volt plug-in hybrid, executives called it a “moon shot” intended to rocket past Toyota Motor Corp. in technology leadership. Now the car is a flash-point for concern.