2010 Chevy Volt partially Paid by near $3 Million Government Loan

DETROIT--Although General Motors CEO Fritz Henderson has said that every GM model must "pay the rent," there will be at least one prominent exception: the Chevrolet Volt.

Last week GM disclosed that it had requested $2.6 billion in government loans to finance advanced technology, including tooling and development costs for the Volt and two Volt variants.

The Volt, touted as an important image-changer for General Motors, is scheduled to arrive late in 2010. Company executives previously had acknowledged that the first generation of this plug-in hybrid-powered car would not be profitable.

"We can't make money on the first Volts," said Troy Clarke, president of GM's North American operations. "But as we get a chance to change the generations of technology, we'll lose less and less."


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