The $3 billion total subsidy figure includes $690.4 million offered by the state of Michigan and $2.3 billion in federal money. ![]() The $256,824 figure includes adding up the subsidies to both companies. For example, A123 Systems has received extensive state and federal support, and bid to be a supplier to the Volt, but the deal instead went to Compact Power. ![]() If those manufacturers awarded incentives to produce batteries the Volt may use are included in the analysis, the potential government subsidy per Volt increases to $256,824. That would mean each of the 6,000 Volts sold would be subsidized between $50,000 and $250,000, depending on how many government subsidy milestones are realized. GM has estimated they’ve sold 6,000 Volts so far. But the analysis looks at the total value that has been offered to the Volt in different aspects of production – from the assembly line to the dealerships to the battery manufacturers. Some tax credits and subsidies are offered for periods up to 20 years, though most have a much shorter time frame. It’s unlikely that all the companies involved in Volt production will ever receive all the $3 billion in incentives, Hohman said, because many of them are linked to meeting various employment and other milestones. These are among many of the subsidies and tax credits for the vehicle. The company that supplies the Volt’s batteries, Compact Power, was awarded up to $100 million in refundable battery credits (combination tax breaks and cash subsidies). The company was also awarded approximately $106 million for its Hamtramck assembly plant in state credits to retain jobs. For example, the Department of Energy awarded a $105.9 million grant to the GM Brownstown plant that assembles the batteries. The analysis includes adding up the amount of government subsidies via tax credits and direct funding for not only General Motors, but other companies supplying parts for the vehicle. The Volt subsidies flow through multiple companies involved in production. The amount of government assistance does not include the fact that General Motors is currently 26 percent owned by the federal government. Hohman looked at total state and federal assistance offered for the development and production of the Chevy Volt, General Motors’ plug-in hybrid electric vehicle. His analysis included 18 government deals that included loans, rebates, grants and tax credits. More information on Chevrolet models can be found at note: This article has been updated with a reaction from a General Motor's official.)Įach Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy. Chevrolet provides customers with fuel-efficient vehicles that feature spirited performance, expressive design, and high quality. The campaign was developed by Chevrolet with Commonwealth//McCann, Casanova Pendrill and Spike DDB.įounded in 1911 in Detroit, Chevrolet is now one of the world’s largest car brands, doing business in more than 140 countries and selling more than 4.9 million cars and trucks a year. Television work will rollout between July and September with spots communicating the breadth of consumer benefits of 4G technology, and will cover multiple audiences, including Hispanic and African American. It also will leverage the Guinness International Champions Cup match between Manchester United and Real Madrid on August 2 at Michigan Stadium to reinforce these messages. ![]() The campaign will launch this week in media where consumers naturally connect around this time of year, including cinema, radio, and a partnership with GoGo in-flight Wi-Fi that allows fliers to connect through unlimited Facebook access during flights.Ĭhevrolet will also participate in Philadelphia’s fireworks display and the nation’s largest free concert by providing free Internet in four Chevrolet vehicle display areas on Benjamin Franklin Parkway. “Bringing 4G LTE Wi-Fi to customers through Chevrolet cars, trucks and crossovers allows an entirely new level of connectivity in transportation,” said Paul Edwards, U.S. Campaign includes cinema, mobile/tablet, in-flight, internet radio and eventsĭETROIT – Chevrolet is rolling out the largest deployment of vehicles with built-in 4G LTE Wi-Fi in the market this summer and the campaign to introduce these vehicles celebrates the freedom this connection brings with a timely push around the Fourth of July.New campaign introduces first and only brand to bring built-in 4G LTE Wi-Fi to cars, trucks and crossovers.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |