GM CEO to Congress: We Can Meet Fuel-Efficiency Standards
Rick Wagoner, the CEO of General Motors, told lawmakers that GM is committed to meeting new fuel efficiency standards of 35 miles per gallon by 2020, reports AP.
Wagoner met with Rep. Henry Waxman, D-Calif., the new chairman of the House Energy and Commerce committee, and a committed advocate of climate change legislation.
He also met with Sen. Jay Rockefeller, D-W.Va., of the Senate Energy committee, and emerged from that meeting declaring that GM is “committed to make the standards and our plans enable us to do it.”
After loaning GM $9.4 billion to avoid bankruptcy, congressional leaders are keeping a close eye on the automaker. The big car companies are required to submit plans next week detailing how they will regain profitability while producing more fuel-efficient vehicle fleets.
EL reported on the company’s plans when the Big 3 automakers rolled up to Capitol Hill in their respective hybrids to ask for a bailout.
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