$20,000 Electric Car: Toyota FT-EV

Toyota has unveiled a budget priced electric car that can be driven up to 80km without using a drop of petrol, reports Joshua Dowling in Detroit.

Toyota would not speculate on the retail price of its new electric car so far out from launch, but a similarly-sized petrol-powered hatchback costs about $15,000, and an electric motor and battery pack would likely add about $5000 to the cost of the car, say industry analysts, bringing the total close to $20,000.

Significantly, on battery power alone the tiny Toyota will travel almost 20km further than the Chevrolet Volt electric car to be made by General Motors. However, the Toyota must be recharged after 80km, whereas the Volt has a petrol generator which extends total driving range up to 1000km. The Toyota electric car is a tiny four-seater hatchback whereas the Volt is about the size of a Holden Astra sedan.

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Will the Chevy Volt save the world?

NEW YORK (Fortune) -- Given the prolonged drum roll of publicity that accompanied the unveiling of the Chevrolet Volt electric vehicle last week, it isn't surprising that any number of onlookers got caught up in the enthusiasm. 

When people begin referring to it as a "game changer" and a "paradigm shift," it's time to inject a bracing dose of reality.To put the Volt in perspective, it is an expensive, low-volume automobile that will have no visible impact on GM's market share, CAFÉ average or profitability. One cynic calls it "a Viper for tree huggers."

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Detroit Finally Gets It!

During the past two weeks, General Motors reported a $15.5 billion quarterly loss (including special items), following Ford Motor's $8.7 billion loss the week before. I shudder to think how bad it is at Chrysler. Auto execs claim they were giving Americans the products they wanted. Really? For proof to the contrary, look at their U.S. market shares, which are slumping to historically low levels as Japanese auto makers gain ground. In a recent meeting with Ford executives, CEO Alan Mulally dared to challenge the Detroit gospel that you can't make money on small, fuel-efficient cars. At last Ford appears to be making bold moves to design and sell vehicles that people want. So with Fords EcoBoost and Verve at least there is some promising news from the American auto-industry, but is it too late?

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