Time's Up for Petrol Cars, Says GM Chief

GM's Wagoner recognizes peak oil by citing demand outpacing production and the need to reduce oil consumption and the electrification of the automobile.

Published: 15-Jan-2008

THE world's biggest car maker, General Motors, believes global oil supply has peaked and a switch to electric cars is inevitable.

In a stunning announcement at the opening of the Detroit motor show, Rick Wagoner, GM's chairman and chief executive, also said ethanol was an "important interim solution" to the world's demand for oil, until battery technology improved to give electric cars the same driving range as petrol-powered cars.

GM is working on an electric car, called the Volt, which is due in showrooms in 2010, but delays in suitable battery technology have slowed the project.

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