GM contracts for electric car

General Motors Corp. has awarded two contracts to companies that will help speed development of its plug-in electric car called the Chevrolet Volt, GM Chairman Rick Wagoner said.

Wagoner also said at GM’s annual shareholder meeting that the company would introduce four hybrid models this year.

A company spokesman said the four hybrids, all previously announced, were the “two-mode” gas-electric Chevrolet Tahoe and GMC Yukon large sport utility vehicles and the hybrid Saturn Aura and Chevrolet Malibu sedans. GM has said the new two-mode technology will boost acceleration and fuel economy.

The contracts to design and test lithium ion batteries went to Compact Power Inc. and to Continental Automotive Systems, Wagoner said.