Bloomberg reports:
March 1 (Bloomberg) -- General Motors Co. stopped work on the Cadillac Converj, an electric-drive coupe similar to the Chevrolet Volt, to focus on cheaper plug-in hybrids for its luxury brand, two executives with knowledge of the move said.
GM concluded that the Converj couldn’t have enough amenities and electric range to be compelling to buyers and produce a profit, said the executives, who asked not to be identified because the details aren’t public.
The decision reverses GM’s public stance of less than two months ago, when Vice Chairman Bob Lutz said the Converj was in the automaker’s plans. While plug-in hybrids can’t go as far on a single charge as a car with the Volt’s technology, their batteries are lighter and may cost less than half as much.
“The future lies in plug-in hybrids with smaller electric range,” said Eric Noble, president of CarLab, an Orange, California-based automotive consultant. Dropping the Converj is “a tacit admission from GM that they over-batteried the Volt.”
Pat Morrissey, a GM spokesman, declined to comment on the Converj...
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