Walmart CEO In Talks with Automakers to Sell Plug-in Cars and Hybrids
Wal-Mart Stores Inc. Chief Executive Officer H. Lee Scott said he held talks with automakers on the possibility of selling gasoline-electric hybrid cars and plug-in automobiles at the retailer's stores.
"Maybe there isn't room for Wal-Mart in this right now," Scott said in the text of a speech to store managers and suppliers in Kansas City today. "But something tells me that there may be some role for us in the future." Scott didn't identify the carmakers, other than to say they were "major" companies.
Scott, who's overseen a 31 percent decline in Wal-Mart's stock-market value during his eight-year tenure, has staked his reputation on an environmental agenda that he said might save millions of barrels of oil annually and cut consumers' energy costs. The retailer plans to work with suppliers to make products that are 25 percent more energy-efficient over the next three years.
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