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12:28 a.m. EDT, May 07, 2009
As a result of its plan to phase out Saturn from its stable of brands, GM will not move forward on creating a plug-in Saturn Vue Hybrid. GM's new chairman of global product development, Tom Stephens reported to the Free Press that he was going to "put it on one of our other brands." Promised for the 2011 model year Saturn Vue, the new plug-in technology could be implemented in vehicles which share the Saturn Vue's platform, including the Chevrolet Equinox or the GMC Terrain.
In its mission to stay out of bankruptcy court, GM is desperate to restructure itself to produce more products which the public will want to buy. GM has until June 1, 2009 to show that it can become viable in the long term. Up till now, GM has been operating by using the $15.4 billion loan it received from the Troubled Asset Relief Program (TARP) bailout initiated by Congress.
Expecting to report a $6.7 billion loss for the first quarter of the year, GM wants to use the new plug-in technology in as strategic a position as possible, banking on it to boost the carmakers sustainability. The plug-in SUV which GM is planning to have available for fleet use by 2011 can be recharged by plugging in to a home outlet or by using its gas engine. This technology, GM claims will double the city fuel efficiency compared to similar SUVs.




