According to Reuters, General Motors has canceled work on the planned plug-in hybrid version of its Cadillac SRX crossover sport utility.
Back in January, GM CEO Dan Akerson indicated that launch of a plug-in hybrid SRX was likely, and that he expected electrified vehicles to make up 10 percent of GM’s production in as few as 10 years.
The news also reflects GM’s decision earlier this year to withdraw an application for $14.4 billion in low-interest loans from the U.S. Department of Energy.
Paired with the Volt, the SRX plug-in would have helped GMN battle the big sales numbers generated by Toyota’s hybrids, led by what Akerson called “the geek-mobile” Prius.
Overlapping timetables were apparently the problem – by the time the vehicle was ready, the Theta platform that supports it would be at the end of its life. And it didn’t help that the SRX PHEV was expected to lose money. That made GM’s decision to cancel it …
However, GM is convinced that extended-range hybrid vehicles will be more popular with consumers (despite Nissan clearly thinking the opposite with this blatant ad spot) and will continue to work at spread the Volt technology to other GM platforms – but not for now.