General Motors Corp. announced at its annual shareholders meeting that it would introduce four new hybrid models this year.

A company spokesperson said four new models, all previously announced are the two-mode electric gas systems in the Chevrolet Tahoe and the GMC Yukon large sport utility vehicles and introduce hybrid systems for the Saturn Aura and the new Chevrolet Malibu sedans.

Gm also awarded two contracts to Compact Power Inc. and Continental Automotive Systems that will help to speed up development of its plug-in-electric car called the Chevrolet Volt. The contracts are to design and test lithium-ion batteries.

Given the huge potential in lower oil consumption and lower carbon gas emmisions that the Volt and its E-Flex system offers, GM stated that producing the Volt is a top priority program and will produce the Volt as soon as it can.

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