[Mr. Wyndham]

ForbesAutos.com: Why not do the Volt three years ago, when the EV1 was cancelled?

Bob Lutz: The reason we’re working on the Volt now is that lithium ion batteries have made huge progress in the last three years. One of the companies we’re working with has very big lithium ion batteries it uses in power tools, and we’re working with that company, A123 in Massachusetts. We want these batteries to be able to recharge for 4,000 cycles and to last for 10 years. The 4,000 cycles is a tough requirement, but the battery companies think it’s achievable. And lithium ion is a disposable material, whereas nickel metal [used in current NiMH batteries] is not.

Here's the rest of that interview.