General Motors publishes “mea culpa” on federal bailout, with pledge for renewed focus on greener cars

General Motors has published a letter in Automotive News explaining why it needs a federal bailout loan, which included reference to the company’s efforts to transition to greener cars. Industry watcher Maryann Keller told the Washington Post: “I find it bizarre. Why are you spending money on this? What a pointless exercise.” GM said: “While we’re still the U.S. sales leader, we acknowledge we have disappointed you. At times we violated your trust by letting our quality fall below industry standards and our designs become lackluster…We also biased our product mix toward pick-up trucks and SUVs.”

GM pledged to be “driven to lead in fuel economy, with more hybrid models for sale and biofuel-capable vehicles on the road than any other manufacturer, and determined to reinvent the automobile with products like the Chevrolet Volt extended-range electric vehicle and breakthrough technology like hydrogen fuel cells.” The company pledged to work to reduce American dependence on foreign oil.

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