Turns out, it was all a big failure. The latest news is that Obama's precious Chevy Volt is prone to catching fire:
General Motors will buy a Chevrolet Volt back from any owner who is afraid the plug-in extended-range electric car will catch fire, the company's CEO told the Associated Press today.
U.S. auto-safety regulators are examining the safety of lithium-ion batteries that power all plug-in electric vehicles after a General Motors Co. (GM) Chevrolet Volt caught fire, people familiar with the probe said.
President Barack Obama’s goal of putting 1 million electric vehicles on U.S. roads by 2015 is part of his strategy to reduce dependence on foreign oil. Nissan is among companies that have received financing assistance from the U.S. Energy Department and European Investment Bank to develop electric vehicles and lithium-ion batteries. GM in January withdrew a request for $14.4 billion in U.S. loan guarantees.
Source: Bloomberg
