Scrapping the Hummer?
General Motors Co. revealed it is set to close four plants, where the American automaker has been building sport-utility vehicles and trucks, and launch a new line of eco-friendly wheels.
The announcement last week comes in the face of soaring gas prices and skyrocketing demand for fuel-efficient vehicles. GM Chairman and CEO Rick Wagoner said the move was necessary to keep the company competitive with the current market, reported ABC News. The manufacturer is also shopping around its Hummer brand, the notoriously gas-guzzling, military-style vehicle.
Meanwhile, GM is focusing its attention on the introduction of environmentally friendly models, such as a two-mode hybrid Saturn, reportedly coming later this year, and the Chevy Volt, the highly anticipated compact car that could potentially attain 150 mpg by the time it reaches consumers in 2010.