GM's request for Energy Department funds on hold, Volt looks really afraid
Despite General Motors' problems, the company has affirmed, reaffirmed and swore on its life that the Volt would hit the highway in 2010 come hell, high water or insolvency. That said, we reckon coming through on that vow is going to get a lot tougher without a few more billion from the United States Energy Department. You see, GM had applied for $10.3 from the entity, and $2.6 billion of that was to be set aside for building the all-electric sedan and two derivatives of it (as well as a third hybrid model, we're told). Unfortunately for it, all that cheddar is being held up due to its inability to pass a "financial viability test in order to simply survive." Not surprisingly, GM is assuring the world that the government's final decision won't stop the Volt from going on sale this November, but it also said that bankruptcy wouldn't be needed just a few months ago. Ahem. [Warning: read link requires subscription]
