General Motors has declared bankruptcy.  What does it mean for the Chevy Volt?

The most high-profile research and development project in the auto industry won't be affected, the company says.  Almost immediately after filing bankruptcy, GM issued a "letter to customers" on a new website created to give the company's side of the bankruptcy story, GMreinvention.com.    The letter states, "The new GM will have a number of key vehicle launches in 2009 and 2010," which include "the revolutionary Chevy Volt, and extended-range electric vehicle that can travel up to 40 miles on battery power alone."

Launching the Volt on time will be an extraordinary challenge for the company.  Reuters notes that GM is "now worth less than 3-year-old niche electric car startup Tesla Motors (at least based on Friday's closing stock price for GM and the valuation for Daimler's recent investment in Tesla)," meaning "the road to world domination in the cleaner vehicle space will likely be a long one."

In fact, the Los Angeles Times writes, "The much-touted Chevy Volt...may not be the game-changer GM hopes. Expected to list for $40,000 when it hits the market next year, the Volt may be too pricey for many buyers looking to save on gas costs -- a conclusion reached by President Obama's auto task force."

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