DURHAM, N.C. (TheStreet) -- Before news broke of General Motors' IPO, the Chevy Volt tour arrived this week in Durham, N.C., where it was enthusiastically greeted by employees at IBM's (IBM) Research Triangle Park complex.
The Volt is "the next step in the transformation of our company," declared Micky Bly, GM's executive director of global electrical systems, who represented the automaker in Durham. The car has the potential to instantly place GM and Chevrolet among the leaders in the move away from gasoline-dependency.
In advance of its imminent introduction in dealerships, the Volt is on a 12-city tour that has taken it from Seattle to San Diego to Texas and Florida. It stopped in Durham on its way north to New York, where it will arrive on Friday.Several hundred IBM employees gathered for the event. About 150 folks test-drove the car, which can run 25 to 40 miles on a battery and then about 300 more on an engine, powered by a gasoline powered generator that makes electricity. The gas tank holds 9.3 gallons of gas. The enthusiasm in Durham was no surprise, given that IBM is a major supplier to the Volt, a product of complex new technology developed in just 29 months. The short development timeline, laid out by former General Motors executive Robert Lutz, meant that suppliers had to play a major role. "We had to cooperate like we haven't done in decades," Bly said.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV