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GM 'will lose money' on the new Chevrolet Volt

By Ben Whitworth Motor Industry 18 September 2008 14:39 Despite hanging its future on the make-or-break Chevrolet Volt plug-in hybrid car, GM has confirmed that it doesn’t expect to make a profit from it – at least not on the first-generation model. The Chevy Volt was unveiled this week amid much hoopla at GM's centenary. 'I don’t know that I’ve ever seen a situation where we make money, particularly when you load all the costs in,' Fritz Henderson, GM’s chief operating officer, told Automotive News Europe, referring to the company’s first-generation technologies.

Banksy 'Car Plant' work for sale

AN ART GALLERY wants to sell a work created at an abandoned Detroit car plant by the elusive British graffiti artist Banksy. 555 Nonprofit Gallery and Studios co-founder Carl Goines said proceeds from the sale would go to expand the gallery's programming. Mr Goines said he's hoping the Banksy work will bring in between 200,000 to 1.2 million dollars (£120,000 to £720,000), which he says is the range of recent sales.

Detroit Electric delays SP:01 EV

Detroit Electric will delay the SP:01 EV roadster for at least a month, according to a company executive who talked to the Detroit News. The company still hasn’t finalized a manufacturing location in Wayne County. Production was scheduled to start in August, now it’s slated for September.