GM seeks tax breaks to build Chevrolet Volt in Detroit

GM seeks tax breaks to build Chevrolet Volt in Detroit

GM is hoping its upcoming electric car, the Chevrolet Volt, will be the start of its economic turnaround and is committed to building the car in its hometown of Detroit. However, the General will need financial aid to keep its promise and recently met with Detroit City Council members to discuss possible tax breaks.

GM has said it wants to build the Volt at its Poletown plant, although its launch is still several years away because developing the battery technology needed to power the vehicle but wants to start production in 2010, reports The Detroit News.

Building the Volt in Detroit will keep jobs in the U.S., but GM is still set to cut jobs and possibly even close plants in a bid to restructure the business, which last year lost $38 billion.

While word on the results of the tax breaks discussion is yet to be announced, GM needs every bit of financial support it can get - large job cuts are likely to come with the possible closure of GM's SUV plants, although there’s also the possibility that GM's car plants could absorb some workers as car sales increase and SUV sales flag.

Chevrolet Volt Concept