The 2010 North America International Auto Show opened Monday at Cobo center in downtown Detroit, the U.S. auto city, with participation of more than 60 automakers worldwide.

Speaking at the opening ceremony, U.S. Transportation Secretary Ray LaHood defended the government's loan of 80 billion U.S. dollars to bailout the domestic auto industry.

LaHood rejected criticism of the government's role. He noted that Obama's support of auto makers was unprecedented and General Motors Co. has paid the first 1 billion U.S. dollars of its 6.7 billion dollars in outstanding government loans. The government swapped about 42 billion dollars for a 61 percent majority equity stake in GM.

"GM is starting to pay the taxpayers back the money that was loaned to them. That ought to be the message that we are telling people," LaHood said.

"This industry would not see the bright future that it's seen today, with the roll out of these new products, if it hadn't been for the strong commitment, strong partnership of President Obama," he added.

He also said General Motors and Chrysler Group LLC have made huge improvements since exiting bankruptcy. "What a difference a year makes," LaHood said, adding: " Today is a new beginning, really for the automobile industry."

The major focus of the 2010 North American International Auto Show will be new high-technology electric cars -- battery, plug-inhybrid and extended-range electric vehicles. The show has created a special showcase for these products and called it Electric Avenue.

NAIAS announced the debut of Electric Avenue, a 37,000-square-foot feature on the main floor of the 2010 show that will showcase electric vehicles and technology of both traditional automakers and innovative entrepreneurs. The exhibit area will feature nearly20 vehicles as well as symposiums and special events on the adjacent NAIAS stage.

Japanese carmaker Toyota unveiled the FT-CH dedicated hybrid concept at the NAIAS. The FT-CH is a concept that would address Toyota's stated strategy to offer a wider variety of conventional hybrid choices to its customers, as it begins to introduce plug-in hybrids (PHVs) and battery electrics (BEVs) in model year 2012, and hydrogen fuel cell vehicles (FCHVs) in 2015 in global markets.

German automaker Volkswagen unveiled its New Compact Coupe, a two-door sporty hybrid concept car which can reach 141 mph, sprint to 60 mph from rest in 8.1 seconds and return 45 miles per gallon.

China's electric carmaker BYD also displayed the e6 electric carat NAIAS. e6 is a unique purely electric vehicle, representing a new era in personal transportation. It is an environmentally friendly vehicle with zero pollution and low noise.

Tim Lee, President of GM International Operation (GMIO), told Xinhua that the government has been very supportive to the auto industry including GM and the U.S. auto industry is on its way back.

"As we are moving forward, we will repay the loans that we have taken from the government and will move forward strongly as a company. We are very confident," he said.

GM chairman and chief executive Edward Whitacre told reporters that GM will repay the balance of its 6.7 billion-dollar government loan by June and the government will make money.

Whitacare said the government bailout was well placed and they will make a lot of money. "GM is on its way back. We'll be back. The government has made a good investment," he said.

Entering its 22nd year as an international event, the NAIAS is among the most prestigious auto shows in the world and is one of the largest media events in North America

Related

• BYD's electric car displayed at NAIAS
• Thailand's int'l auto show expected to draw 1.6 mln visitors
• 2009 L.A. Auto Show
• 7th Guangzhou Int'l Auto Show
• Guangzhou Int'l Auto Show kicks off

Go to Forum >>0 Comments