The Race For The Electric Car

Competition To Build A Viable Electric Car Heats Up, As Silicon Valley Gets Into The Game

(CBS)  It is true that Tesla is now hiring lots of people with Detroit on their resumes. Their next project is development of a four-door family sedan that will compete with the Chevy Volt.

Asked if he thinks this was going to be easier than it turned out to be, Elon Musk tells Stahl, "Yes, I probably thought it would be a little easier."

"How much more has the project cost than you thought it was going to cost so far? Twice as much? Three times as much?" Stahl asks.

"Probably twice as much, I think. Ish. Thereabouts," Musk says.

He says he put in about $55 million of his own money into the company. "It’s a little more than I expected."

No one has figured out how to make an electric car cheap. Tesla plans to sell its four-door sedan for $60,000; Lutz at GM wants the Volt to be more of an everyman car.

"I started out very optimistically and said 'I think we can sell this thing for $20,000.' And that turned out to have been, like, one of those 'I wish I hadn't said that.' And then we started hoping for well below 30. And now we're trying to keep it south of 40," Lutz says.

"$40,000 is not an everyman car by any stretch," Stahl remarks.

"That's true," he agrees.

To get buyers, GM will have to sell the car at a loss, which is bad news for a company already burning a billion dollars in cash every month. "I'll tell you what, we can afford a tiny little loss on a car. But we can't afford a $20,000 loss per car. That's just not on," Lutz tells Stahl.

That’s because GM is in financial straits. Bob Lutz is trying not only to produce a moneymaker, but also prove with the Chevy Volt that his company and his town are still the address for innovative cars.

"So, a lot about General Motors' reputation and image is riding on this? To say the least?" Stahl asks.

"That is probably an understatement," Lutz admits.

"So basically in your mind, it has to succeed?" Stahl asks.

Says Lutz, laughing, "Of course, it does. For what it's worth, I stake my reputation on it."

[EV-lover]

If anyone is interested in learning more about this topic, there is an excellent book recently published which argues for the electric car and scrutinizes hybrids, hydrogen-based vehicles, and the automotive and oil industries as well as the government for their neglect of the electric vehicle as as viable alternative. It's called "Two Cents Per Mile" and it's a great starting point to understand the mechanics, history, and possibilities of the electric car. You can get it on amazon: http://www.amazon.com/Two-Cents-per-Mile-President/dp/0615293913/ref=sr_1_1?ie=UTF8&s=books&qid=1246464373&sr=8-1

[willkan1]

The problem with the electric car is the batteries. What is needed is a source of electric that is better than the batteries. I went to a local colledge and spoke to a physics professor. I told the professor that I have a theory for an invention that would solve all our energy and pollution problems. He grinned at me as if to say,"YA RIGHT". I told the professor that I needed someone to prove me worng so I could stop thinking about this. I am totally fixated. When the professor could not prove me wrong,he got angry,and said,"It will never work,but if it does,you will win a Noble Prize". I get so depressed to see all the money wasted,when I know that I have something better. We can solve it.org and the pickens plan makes me sick.

[dirttrucking]

Those guys from california need to be given more credt since they are putting their own money into the projects, unlike GM which has asked the gov''t for money to re-tool??? Yet their CEO is quite a wealthy man who does not dare put his personal money into these ventures. As if that is not enough, the new legislation has a clause that will give all Americans a $7,000.00 rebate to all those that buy a VOLT! Gm is a major corporation that needs to quit contributing to those problems that have brought our Country into the state it is in. Lutz is a greedy --- whose only concern is his wealth.

[dirttrucking]

Those guys from california need to be given more credt since they are putting their own money into the projects, unlike GM which has asked the gov''t for money to re-tool??? Yet their CEO is quite a wealthy man who does not dare put his personal money into these ventures. As if that is not enough, the new legislation has a clause that will give all Americans a $7,000.00 rebate to all those that buy a VOLT! Gm is a major corporation that needs to quit contributing to those problems that have brought our Country into the state it is in. Lutz is a greedy --- whose only concern is his wealth.

[lola328]

Curious: Where''s the moderator for this blog, one that should eliminate all these redundancies???

As Leslie Stahl said, Tesla is not for the commoner. What is need is a more affordable vehicle which has a performance similar to Chevy Volt but costs less. Actually, I have a patent pending invention that addresses the twin needs of an economical electric car for daily use (which is 95% of the time), and the flexibility to use it on vacation. I disclosed the invention to GM and Ford but they were not interested. The cost of the vehicle is expected to be the same as Toyota Prius. Anyone interested in licensing this technology can contact me at [e-mail]

Sincerely,
Narayanan Subramanian

[strmrnnr]

This should have started 20 years ago when the other countries did. North America was behind on the Hybrid Cars and they likely will be on the Full Electric Cars. The only thing that may save them in the Nanotechnology which allows for the superstregth to weight ratios to be added to the designs.

[claydowner]

The all electric plug-in car with a 100 mile range needs to be mass produced by the the Big Three automakers. Nearly, 90% of Americans drive less than 40 miles per day. If the car has a 100 mile range this will eliminate our need to import oil. Now imagine 250 million electric cars. Israel and Denmark are building all electric cars with a 100 mile range. Shai Agassi, Israeli businessman, has spearheaded the electric car with "Project Better Place". By 2020 Israel will have mostly electric cars. Denmark will follow suit. Combine Shai Agassi with T. Boone Pickens and you could get a comprehensive energy program eliminating oil almost entirely.

American corporations are very short sighted and ignorant. We all know oil is a finite resource that is going to run out even faster with China and India industrializing. We will have one billion cars by 2020 up from 800 million today. Remember we need to invest heavily into solar, windpower, and geothermal. Electricity from coal is a lot better for the environment than gasoline cars spewing out pollution and CO2. Electric cars CAN WORK VERY WELL. The status quo oil consumption economy has strong entrenched defenders. We need to start a major program to bring the all electric car to the market. The other nice thing is that all electric cars require very little maintenance. Once they get marketed they will sell like hot cakes.

[dirttrucking]

Those guys from california need to be given more credt since they are putting their own money into the projects, unlike GM which has asked the gov''t for money to re-tool??? Yet their CEO is quite a wealthy man who does not dare put his personal money into these ventures. As if that is not enough, the new legislation has a clause that will give all Americans a $7,000.00 rebate to all those that buy a VOLT! Gm is a major corporation that needs to quit contributing to those problems that have brought our Country into the state it is in. Lutz is a greedy --- whose only concern is his wealth.

[doctks]

This man is a large part of the reason that GM is suffering and will continue to do so for a very long time. He has no vision for the future whatsoever. He is extraordinarily dim, stubborn, and myopic in his belief that our existence on this earth has caused no significant distress.
One other thing I must mention is that trickle down economics doesn''t work because of people like this. How can he possibly need or use two jets and two helicopters. My bet is that he purchased these with all the income he made while GM was posting all those enormous profits over the last several years. Anyone dumb enough to purchase a GM car or who owns GM stock certainly has to feel stupid after watching this. Thanks for your excellent coverage. Sincerely,
Ted Sullivan

[dirttrucking]

Those guys from california need to be given more credt since they are putting their own money into the projects, unlike GM which has asked the gov''t for money to re-tool??? Yet their CEO is quite a wealthy man who does not dare put his personal money into these ventures. As if that is not enough, the new legislation has a clause that will give all Americans a $7,000.00 rebate to all those that buy a VOLT! Gm is a major corporation that needs to quit contributing to those problems that have brought our Country into the state it is in. Lutz is a greedy --- whose only concern is his wealth.

[dirttrucking]

Those guys from california need to be given more credt since they are putting their own money into the projects, unlike GM which has asked the gov''t for money to re-tool??? Yet their CEO is quite a wealthy man who does not dare put his personal money into these ventures. As if that is not enough, the new legislation has a clause that will give all Americans a $7,000.00 rebate to all those that buy a VOLT! Gm is a major corporation that needs to quit contributing to those problems that have brought our Country into the state it is in. Lutz is a greedy --- whose only concern is his wealth.

[dirttrucking]

Those guys from california need to be given more credt since they are putting their own money into the projects, unlike GM which has asked the gov''t for money to re-tool??? Yet their CEO is quite a wealthy man who does not dare put his personal money into these ventures. As if that is not enough, the new legislation has a clause that will give all Americans a $7,000.00 rebate to all those that buy a VOLT! Gm is a major corporation that needs to quit contributing to those problems that have brought our Country into the state it is in. Lutz is a greedy --- whose only concern is his wealth.

[dirttrucking]

Those guys from california need to be given more credt since they are putting their own money into the projects, unlike GM which has asked the gov''t for money to re-tool??? Yet their CEO is quite a wealthy man who does not dare put his personal money into these ventures. As if that is not enough, the new legislation has a clause that will give all Americans a $7,000.00 rebate to all those that buy a VOLT! Gm is a major corporation that needs to quit contributing to those problems that have brought our Country into the state it is in. Lutz is a greedy --- whose only concern is his wealth.

[dirttrucking]

Those guys from california need to be given more credt since they are putting their own money into the projects, unlike GM which has asked the gov''t for money to re-tool??? Yet their CEO is quite a wealthy man who does not dare put his personal money into these ventures. As if that is not enough, the new legislation has a clause that will give all Americans a $7,000.00 rebate to all those that buy a VOLT! Gm is a major corporation that needs to quit contributing to those problems that have brought our Country into the state it is in. Lutz is a greedy --- whose only concern is his wealth.

[dirttrucking]

Those guys from california need to be given more credt since they are putting their own money into the projects, unlike GM which has asked the gov''t for money to re-tool??? Yet their CEO is quite a wealthy man who does not dare put his personal money into these ventures. As if that is not enough, the new legislation has a clause that will give all Americans a $7,000.00 rebate to all those that buy a VOLT! Gm is a major corporation that needs to quit contributing to those problems that have brought our Country into the state it is in. Lutz is a greedy --- whose only concern is his wealth.

[pytrboaz]

You hit the main point about "all electric cars" and then let it go when you should have hammered the point. How is the elctricity produced to recharge these vehicles?
With elctricity from power plants. Here in the south a large part of our elctricity comes from hydroelectric dams. However with the global warming we are experiencing record droughts. So more and more of our elctricity comes from coal burning plants. These do not have the stringent Epa requirements of autos as to emissions. A 20 % switchover of cars to all electric would wreck the south''s ecology.
Also we are experiencing constant at random brown outs. One night diner cooks in 1 hour. The next night it takes two or three hours.
That 20% move to all elctric cars would cause us to have rolling black outs.
Here in the south Air Conditioning is not a luxury. It is a necessity. In the days before wide spread usage of AC the most common form of death was from heat prostration and heat related heart attack. If you visit an old cemetary you will be struck by the numbers of deaths at realative young ages in June, July, August, and September.
Introduction of AC brought on by cheaper electricity rates these fatalities declined markedly. If we increase demand on our electricity while we are allready at crises levels we will return to those grim old days.
The all electric car just is not the answer. Perhaps a hybrid that never or rarely needs to be plugged in is the answer.

[aerhed]

Very fluffy, very lame, big giant Duh! Leslie do you feel smart?

[keating54u]

www.keatingeconomics.com

McCain Received $166,000 In Campaign Contributions from Charles Keating and his Associates.

McCain Used Keatings Private Planes on Nine Occasions

McCain Had Direct Financial Ties To Keating

When the story broke, McCain did nothing to help himself. ''You''re a liar,'' McCain said

when asked about the investments. He challenged reporters saying, ''It''s up to you to find that out, kids......

[lamboatseb]

I watched the story and was dissapointed that the Aptera was not given in -depth coverage. here is a car that will go into production in 90 days, costs Around 30,000,goes over 100 miles on a charge,and has over 3000 deposits by waiting customers.