Writes Patrick Michaels over at Forbes on the Chevy Volt:
The Chevrolet Volt is beginning to look like it was manufactured by Atlas Shrugged Motors, where the government mandates everything politically correct, rewards its cronies and produces junk steel.
This is the car that subsidies built. General Motors lobbied for a $7,500 tax refund for all buyers, under the shaky (if not false) promise that it was producing the first all-electric mass-production vehicle. ["Chevy Volt: The Car From Atlas Shrugged Motors"]
Unfortunately, the car is NOT an electric car, but a hybrid.
It turns out that the premium-fuel fired engine does drive the wheels–when the battery is very low or when the vehicle is at most freeway speeds. So the Volt really isn’t a pure electric car after all. I’m sure that the people who designed the car knew how it ran, and so did their managers.
So what’s the catch?
[...] It’s doubtful that GM would have gotten such a subsidy if it had been revealed that the car would do much of its freeway cruising with a gas engine powering the wheels. While the Volt is more complicated than the Prius, and has a longer battery-only range, a hybrid is a hybrid, and the Prius no longer qualifies for a tax credit.
So should we expect to see the Chevy Volt losing it’s tax credit status anytime soon?
Recently, President Obama selected General Electric CEO Jeffrey Immelt to chair his Economic Advisory Board. GE is awash in windmills waiting to be subsidized so they can provide unreliable, expensive power. [..] Immelt announced that GE will buy 50,000 Volts in the next two years, or half the total produced. Assuming the corporation qualifies for the same tax credit, we (you and me) just shelled out $375,000,000 to a company to buy cars that no one else wants so that GM will not tank and produce even more cars that no one wants. And this guy is the chair of Obama’s Economic Advisory Board?