| solar power, cars, bailout | 20 Nov 2008 8:08 AM |
| Solar Power Power by Erica Oberndorfer | |
One might say it is a sign of terrible times when Big Three Auto go hat in hand asking taxpayers for a bailout. After all, only six years ago GM posted its biggest ever profit, an astounding $1.7 billion. Now they are on life support.
One might also say, with a slight incredulous shake of the head, that it is a sign of possibly better, saner times when a solar company is the one feeding them a drip line.
Germany’s SolarWorld recently aired its intention to bid on four of GM’s plants, home to GM’s subsidiary Opel, and transform them into facilities that make electric and hybrid vehicles. SolarWorld also plans to bid on Opel’s development centre and headquarters, part of a vision to develop Europe’s first “green” auto company.
(Insert note of caution given that greener cars don’t solve development patterns encouraging urban sprawl, or alleviate gridlock, or reduce road rage)
What kind of company would GM be today if it had invested that $1.7 billion differently? And should a bailout come with strings attached? This article has a couple of ideas on conditionalities.