Ann Arbor tech helps drive electric car development

Wednesday, November 18, 2009 | Source: Inc.

One of Ann Arbor's big up-and-coming entrepreneurs, Anne Marie Sastry of Satki3, is getting some major national ink now that she is gracing the cover of this month's Inc magazine.

Excerpt:

At ground level, electric cars like GM's Chevrolet Volt -- due to be launched in November 2010 -- are pretty much everything the U.S. economy is banking on. The cars promise innovative engineering and a resurgence of the American auto industry. They mean an America that is manufacturing things rather than just bundling financial instruments. Cosmically, electric cars mean green technologies that will migrate to China, India, and Brazil, where they will allow for Western styles of personal freedom yet not threaten to overheat the earth.

And you don't have to be George Clooney to want one. Electric cars may be vaguely cool, but GM executives are counting on drivers with nothing more than a householder's logic, something like the good sense to refinance a mortgage when the 30-year-fixed drops more than 2 percent. Jon Lauckner, GM's vice president of global product planning, tells me that his team set out to trump gas-powered cars as a matter of straightforward economics, especially as economic recovery pushes the price of gas back over $3 a gallon. "At that level," Lauckner says, "the cost of running a Volt in full electric mode will be about one-sixth that of a gas-driven car of the same size, 2 or 3 cents a mile rather than 12 to 15 cents a mile. We figured that, for most people, this means a savings of about $1,500 a year." Sticker prices will be high; the suggested price of the Volt will be about $40,000. But federal tax rebates are anticipated to be as much as $7,500, not to mention various state incentives. So the actual price will probably be closer to $30,000 -- not a bad deal, given that borrowing costs will be low for some time.

Read the rest of the story here.