Volvo

That new car or truck you’ve been eyeballing for the last month or so has a price tag above and beyond the sticker in the window, and we’re not talking about taxes, licenses and fees.

Today, U.S. President Obama announced an historic agreement between government and thirteen automakers to bring about new fuel efficiency standards that could save consumers trillions over the coming years. 

The North American division of Volvo Trucks (Stockholm: VOLV-B.ST) has reached a milestone which saw the company reduce energy consumption at its Virginia plant by 30% in response to a challenge issued by the U.S. Department of Energy in 2009.

In 2012, Volvo will introduce the world's first diesel plug-in hybrid electric vehicle -- the V60.

The car will feature three driving modes, each offering different assets.  Additionally, Volvo has created an iPhone app that lets owners monitor the car's charging status.

To develop a more energy efficient car, start from the bottom up--with the wheels.