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First 2015 Chevy Corvette Z06 Sells For One Million Dollars

NASCAR team owner Rick Hendrick loves buying first-built Chevrolet models for charity. He paid $1 million to buy the first production 2014 Corvette Stingray Convertible and $650,000 to get the first 2014 Chevy Camaro Z/28. Hendrick's latest purchase happened at the Barrett-Jackson auction in Palm Beach where he got into a bidding war to pay $1 million to get the first 2015 Corvette Z06. The bidding came quick with the car reaching $100,000 within 3 seconds and hitting $500,000 in about 35 seconds. The money from the sale was donated to the Karmanos Cancer Institute. Related Gallery Harley Earl's Corvette Up For Auction

More 2017 Chevy Bolt powertrain details revealed

We've seen the production version of the Chevy Bolt electric vehicle. We've driven a prototype version. And now it's time to get some details about the powertrain. After the production version's reveal at CES last week, GM trotted out the Bolt EV for its Detroit debut this morning. The company brought with it a bunch of technical specifications. We'll start with the most important part of an EV: the battery. GM has put a 60-kWh lithium-ion battery that weighs just just 960 pounds into the floor of the Bolt. As previously announced, the Bolt's 288 cells will be able to go over 200 miles on a full charge. That full charge takes nine hours on a Level 2 EVSE thanks to the onboard 7.2-kW charger. Of course, a full charge won't be that important most days, which is why GM says that you can get 50 miles of range in "less than two hours" on Level 2. There's a SAE Combo DC fast charging option as well. The battery will have an eight-year/100,000-mile warranty. The Bolt will be able to sprint up to 60 miles per hour in "less than seven seconds" thanks to a 150-kW/200 horsepower motor in the Bolt. The motor is a new GM design that can produce up to 266 pound-feet of torque. The Bolt uses a shift-by-wire system and an, "offset gear and shaft configuration tailored to meet efficiency and performance targets." The Bolt EV's powertrain has a 7.05:1 final drive ratio. You can read all of the details direct from GM below. Related Video: Drive Unit and Battery at the Heart of Chevrolet Bolt EV Engineers focus on careful balance of range and performance DETROIT, Mich. – The 2017 Chevrolet Bolt EV does more than set a new benchmark for affordable, long-range EV driving. It also raises the bar when it comes to driving performance. Engineers developed the Bolt EV's propulsion system to offer more than an estimated 200 miles (based on GM estimates) and a delightful driving experience that's more akin to a compact sports sedan than a small utilitarian crossover. "Being the leader in range and affordability means nothing if the car isn't going to excite you each time you get behind the wheel," said Josh Tavel, Chevrolet Bolt EV chief engineer. "That's why the team was tasked with delivering a propulsion system that would also make the Bolt EV an electric vehicle that owners would love to drive." Single Motor Drive Unit Like most EVs on the road, the Bolt EV's drive system uses a single high capacity electric motor to propel the car.

Opel pulls out of Russia, GM to focus on Cadillac, 'iconic' Chevys

General Motors is going to realign its priorities in the struggling Russian marketplace, withdrawing its Opel brand and pulling out mainstream Chevrolet models. Instead, the General will take aim at Russia's well-established oligarchy, pushing Cadillac as well as "iconic" Chevrolet models, like the Corvette, Camaro and Tahoe. "This change in our business model in Russia is part of our global strategy to ensure long-term sustainability in markets where we operate," GM president Dan Ammann said in a statement. "This decision avoids significant investment into a market that has very challenging long-term prospects." Russian customers interested in an Opel or mainstream Chevys like the Spark, Aveo (the US market Sonic), Cobalt (shown above), Cruze, Orlando and the like have until December to snap up a car before the brands are pulled. "We do not have the appropriate localization level for important vehicles built in Russia and the market environment does not justify a major investment to further localize." Opel Group CEO Karl-Thomas Neumann said. GM will continue to offer service to customers in Russia. "We can assure our customers that we will continue to provide warranty, parts and services for their Chevrolet and Opel vehicles," Neumann said. Beyond realigning its brands in Russia, GM also announced that it would also be idling the company's factory in the country's second-largest city, St. Petersburg. This is the second time the St. Petersburg factory has been in the news – GM announced that it'd be idled for roughly two months back in February. Scroll down for the official press release from GM. GM to Change Business Model in Russia 2015-03-18 Focus on Cadillac and iconic Chevrolet vehicles Wind down Opel brand and sale of mainstream Chevrolet cars Idle GM Auto manufacturing facility in St. Petersburg Part of GM's strategy to ensure long-term sustainability in global markets DETROIT – General Motors today announced plans to change its business model in Russia. GM will focus on the premium segment of the Russian market with Cadillac and U.S.-built iconic Chevrolet products such as the Corvette, Camaro and Tahoe. The Chevrolet brand will minimize its presence in Russia and the Opel brand will leave the market by December 2015. "This change in our business model in Russia is part of our global strategy to ensure long-term sustainability in markets where we operate," said GM President Dan Ammann.