Oh, come off it. The Volt was in development for years before the bankruptcy and federal “rescue”. It is a different and innovative path between full electric and Prius-type hybrid, and this technology deserves to be developed to see if it can in fact compete.
Had GM not gone through the wringer and remained private, the Volt would still be released. It is an uneconomical project at present, but future fuel prices and regulations may require that other automakers move in that direction eventually. We are now bearing the costs of successfully commercializing a new technology, just now in the role of shareholders since GM is partially owned by the government.
The amount invested, or wasted (depending on your point of view) is relatively modest in the whole scheme of things. It may result in lower production costs and a substantial net benefit to customers, or it may flame out. That’s the story of innovations in general.
The big wastes are elsewhere, such as the atrocious CAFE process for regulating fuel economy.
