The United States government owns a controlling stake in GM (Government Motors).
The Chevrolet Volt electric vehicle is subsidized with tax incentives to push the leftist green agenda:
Those tax incentives are already coming to bear, at least for the Volt. Barron’s reports that with a federal subsidy, the Volt’s price could be as low as $33,500, after a $7,500 tax subsidy financed by the American taxpayer under President Barack Obama’s stimulus bill. That might sound a bit more affordable, but the subsidy masks the true $41,000 cost. If you contrast that with other new offerings (take the highly fuel efficient, $13,320 Ford Fiesta, for example), that’s a steep price.
The GM and Chrysler union bailout is benefiting someone, at least.
GE will begin with an initial purchase of 12,000 vehicles from General Motor Co., starting with Chevy Volt in 2011. The conglomerate said it “will add other vehicles as manufacturers expand their electric vehicle profiles.”
The first Chevrolet Volt is expected to roll off production lines later this month.