January 10, 2012
Energy Secretary Steven Chu is in Michigan at the North American International Auto Show today to promote the Obama administration's support for the domestic auto industry. To coincide with his visit to Detroit, the Department of Energy has also released a new video titled "Energy 101: Electric Vehicles."
At the show, General Motors (NYSE: GM ) CEO Dan Akerson said that he is open to cutting Chevy Volt output to meet demand, which is struggling because of its higher price and the investigation into the Volt fires. Ford (NYSE: F ) is highlighting its brand new 2013 Fusion, which could get up to 100 miles per gallon with the plug-in hybrid Energi version. The Fusion Hybrid won the North American Car of the Year award in 2010. The 2013 Fusion comes with a computer system to warn drivers when the car drifts out of its lane. One of the cars showcased in the video, Tesla's (Nasdaq: TSLA ) Model S, the company touts as "the world's first premium electric sedan." Toyota (NYSE: TM ) unveiled its new hybrid, the Prius C, which promises 53 miles per gallon for less than $20,000. The company also revealed its NS-4 plug-in hybrid, which should be available in the next few years.
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