GM Considering Leasing the Batteries for the Volt
4 September 2007
Drive. Nick Reilly, the President of General Motors Asia Pacific, said that GM is looking at leasing batteries for the Volt to customers, rather than asking them to pay a prohibitive price for the new technology.
“People won’t buy a full car. They will buy a car and rent or lease the battery and the cost of leasing the battery will be the same as, or less than, the cost they’re paying today for petrol. So the motoring costs of an electric vehicle don’t necessarily have to be much higher than the cost of today’s vehicles,” he said.
Mr Reilly said the leasing approach could speed up the adoption of hybrid vehicles. “Before we were saying it will be an awfully long time before we can get the costs down so people can afford it, but actually if you offset the fuel costs, people can afford it,” he said.
Reilly made the comments in Australia, where he is in meetings associated with the APEC summit.
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