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Hindsight is always 20/20, but I have to wonder...GM cancelled its all-electric car, the EV1, back in 2003, after it had been in development for several years. Although the car still needed some improvements before it would viable in the mass-market (as opposed to its niche customers), imagine if they had continued working on it over the last five years. They could've released the 4th generation this year - the product would've been pretty solid. Think of the advantage they'd have had with that much experience dealing with the technology. I have no doubt that if a major car manufacturer offered an all-electric car for $30-$40k today, even with a limited range, you would have a waiting list a mile long.
Of course, the reality is that GM killed the project (seemed like they were in a hurry to put it away) and the company has continued to flounder since. GM's current earnings per share are NEGATIVE $74.28. That's right - for every share of stock outstanding, the company lost $74.28 last year (most of that due to tax accounting, but still). They have since announced that they will reincarnate the vehicle as the Volt, beginning production in 2010 (though I wouldn't be surprised if that slips). But in the 5 years between 2003 and 2008, how much institutional knowledge from the EV1 has been lost? Most, if not all, I'm sure. They will be reinventing the wheel. Additionally, most other car companies have also announced plans to release electric cars in the next few years. Had they kept the EV1 alive, they could've owned the market. But they didn't, and so they don't.
Maybe the lesson here is that "timing is everything"...
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