GM readies Volt unveiling

Posted by Csavage Published in Volt

DETROIT (Reuters) - General Motors Corp is rushing to finish the production version of its Chevy Volt and plans to unveil a showroom-ready model of the heavily touted electric car in September, people familiar with the project say.

Battered by a deepening slump in sales and concerns about whether it can ride out the downturn, GM (GM.N: Quote, Profile, Research, Stock Buzz) is counting on the Volt to break its costly association with gas-guzzling vehicles at a time when truck sales are tumbling and gas prices are near record levels.

GM is likely to complete the production version of the Volt by early August and plans to show it off in September, just when the embattled automaker celebrates the 100th anniversary of its founding, people familiar with the plans said.

A GM spokesman declined to comment on the timeline for its next announcements on the Volt, which will include naming a supplier for the vehicle’s lithium-ion battery pack, the single most expensive element of the vehicle and the component seen as critical to its success.

“Everyone is waiting for the next steps,” Rob Peterson, spokesman for GM’s electric vehicle program, told Reuters. GM designers and engineers are “getting very close” to a production-ready version of the Volt, he said.

GM showed off a concept version of the Volt in January 2007 but has retooled the look of the vehicle significantly since then, in part in order to improve its aerodynamics, representatives of the automaker have said.

GM has already shown a near-production version of the Volt to a Los Angeles-area focus group of consumers as it pushes toward production of the vehicle by late 2010 under a development plan the GM board approved in June.

By unveiling the final version of the Volt at a centennial observation in September, GM will be looking to shift the focus for investors and consumers from its current sales slump toward the more fuel-efficient vehicles it has in development.