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White 4 (0:50)
Topic(s): Auto Industry / Efficiency
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Video Transcript
The problem with the auto industry for a hundred years has
been that, you know, the tyranny of the sunk cost, the tyranny
of, look, this is techn- you know, internal combustion engine
technology is technology that we've bought and paid for; we
understand it, we know how to make it work, it's incredibly
efficient, essentially in terms of cost, it's been radically
cleaned up since the 1970s, it's kind of, you know, kind of
remarkable what they've been able to do. I mean, these engines
are clean, they're efficient and they're cheap. And so the new
technology that would be even cleaner, has to get over this
very big wall of, of the sunk costs and of the, the effort
that's gone into making the vehicle what they are. It's tough.
It's tough. And it's hard for a company like GM, which is
struggling just to get to break even, to kind of see how that
works from an economic point of view.
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April 2008
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