General Motors Chief Executive Fritz Henderson announces the Chevrolet Volt, a rechargeable electric car, during a news conference at the automakers’s Technical Center in Warren, Michigan. The Chevrolet Volt — the electric vehicle General Motors Co is counting on to recharge its image with consumers — is on track to hit an unprecedented fuel economy rating of 230 miles per gallon in city driving. …click here to read more

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In a reversal on Bush’s prior commitment to make a decision on the issue of Corporate Average Fuel Economy (CAFE) standards, the U.S. Department of Transportation (DOT) today revealed it will not make a decision before President-Elect Barack Obama takes office later this month.

Proposed CAFE regulations on new cars would force fuel economy upward toward a goal of 35mpg fleet-wide by 2020. The debate exists on how to graduate the progression toward that goal. The NHTSA has proposed one avenue to raised standards, seeking a total of 25% improvement by 2015, but that would cost the industry about $47 billion over the five-year period. …click here to read more

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The launch of the world’s first hybrid applied to a large luxury SUV, the 2009 Cadillac Escalade Hybrid, begins this month. Achieving a 50-percent improvement in fuel economy in city driving, Escalade Hybrid arrives at Cadillac dealerships in the United States with an MSRP of $71,685. That represents a premium of only $3,600 over a comparably-equipped Escalade.

“In a changing marketplace emphasizing fuel economy technology, Cadillac is proud to be the only luxury brand offering a hybrid in this segment,” said Jim Taylor, Cadillac general manager. …click here to read more

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