GM Announces Four New Hybrid Models - A Yukon, A Tahoe & Two Sedans

[hatrack]

WILMINGTON, Del. -- General Motors Corp. has awarded two contracts to companies that will help speed up development of its plug-in electric car called the Chevrolet Volt, GM Chairman Rick Wagoner said Tuesday.

Wagoner, speaking Tuesday at the company's annual shareholders meeting, also said GM would introduce four new hybrid models this year. A company spokesman said the four new hybrids, all previously announced, are the two-mode gas-electric systems in the Chevrolet Tahoe and GMC Yukon large sport utility vehicles, and hybrid systems for the Saturn Aura and new Chevrolet Malibu sedans.

EDIT

GM shareholders voted down a series of stockholder initiatives, including a bylaws change proposed by the Community of the Sisters of St. Dominic of Caldwell, N.J., that the company set goals to reduce greenhouse gas emissions and improve fuel efficiency. Proponents argued that GM needs to set the goals to show investors that it is serious about curbing global warming, and that it needs to produce more fuel-efficient vehicles to survive as a company and stem its market share loss.

Just less than 26 percent of the voters were in favor of the proposal, which GM said was unnecessary because it has been working diligently to reduce emissions and improve fuel economy.

EDIT

http://www.nctimes.com/articles/2007/06/06/business/news/15_34_026_5_07.txt

[tblue]

1. I can't wait! The sooner we make Big Oil irrelevant the better! nt

[OKIsItJustMe]

3. Please don't hold your breath

"Big Oil" will be relevant for the foreseeable future.

They've been investing in all sorts of alternative energy sources for years now.

[tblue]

4. Good! And soon 'black gold' will be worth its weight in mud. Isn't that what we want? nt

[happyslug]

2. Sisters of St. Dominic Motion won 26% of the VOTE?????

20 years ago if such a motion received 1 % of the vote it would have big news, for such motions were routinely defeated by the proxies the Board of Directors had. That fact 26% of the Voting Shares voted FOR SOMETHING the BOARD OPPOSED, shows you HOW BAD GM MANAGEMENT IS HELD BY ITS SHAREHOLDERS.