General Motors will unveil its new Chevy Volt tomorrow, hoping that the battery-operated car will reverse its long reputation as a gas-guzzling industry dinosaur and attract devotees of competitors' hybrids, reports the Wall Street Journal. GM hopes the Volt, a lithium-ion-powered car due to hit the market in 2010, can help the company regain some cred as an innovator.
"We have to deliver," says one GM exec. The Volt is "very important to our entire strategy." The Volt, which likely will carry a price tag in the upper $30,000s, has stirred significant interest with more than 40,000 names on an unofficial waiting list. The company hopes initially to build 60,000 units a year. Said one wannabe owner: "I wake up in the morning thinking about it."