Automakers can't afford to develop hybrids - USATODAY.com - 0 views
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Energy Net on 21 Nov 08The arrival of more fuel-efficient cars and trucks promising cleaner air and more energy independence is being set back as automakers worldwide scramble to hoard cash in an industry meltdown. Carlos Ghosn, CEO of Japan's Nissan Motor and France's Renault, on Wednesday warned that automakers "can't find the financing" for aggressive development of so-called green cars. In a keynote speech at the L.A. Auto Show media preview, Ghosn said companies must husband cash to survive an auto recession expected to last until 2010.