Volvo loyalists have been wondering for some time now about the Swedish carmaker’s near-term plans for producing an eco-friendly offering within its lineup. The Ford subsidiary has shown several hybrid concept vehicles at various international auto shows, but there have been no formal announcements about taking any green ideas to market. Until now.
Hyundai has not yet put a hybrid car on the market—and yet the company is throwing around big numbers for its hybrid program: an SUV that gets 38 miles to the gallon; a diesel minicar that beats 60 mpg; and 500,000 annual hybrid sales by 2018.
The $700 billion bailout bill signed by President Bush yesterday includes tax credits up to $7,500 for US buyers of electric vehicles and plug-in hybrids. What does this have to do with preventing a financial meltdown in the global credit markets? Not much.
