Going into the 11th month of uncertainty over Hummer’s future, General Motors said today that it is postponing a decision on its Hummer brand for “a few weeks” as it works out details to complete a sale, reports Automotive News. “Our efforts to sell Hummer are proceeding, and there are several parties interested — and [...]
As most of you are aware by now, President Barack Obama and his automotive task force today flunked General Motors’ and Chrysler’s viability plans that were submitted on Feb 17. “Neither goes far enough to warrant the substantial new investments that these companies are requesting,” Obama said. “They must produce plans that would give the [...]
Detroit Electric, one of the first leaders of the electric car revolution, announced today that it will be partnering up with Proton Holdings Berhad to mass-produce Pure Electric Vehicles (or PEVs if you will). Under the agreement, Detroit Electric will license two Proton vehicle platforms and will contract the Malaysian company to assemble electric-vehicles that will be [...]
An official image of Kia’s new KND-5 concept car has been leaked prior to its debut at the 2009 Seoul Motor Show later this week. The Kia KND-5 concept car hints at a feature luxury sedan for the Kia lineup and is similar in size to the current Kia Amanti. It features 20-inch wheels, LED [...]
According to the auto task force’s Viability Summary of GM, the Chevrolet Volt will not save the Detroit automaker. The government’s audit of GM’s restructuring plan said that the automaker had invested too much time and money developing the Volt instead of focusing producing better smaller cars. “While the Volt holds promise, it will likely [...]
The Canadian government has also rejected restructuring plans submitted by the Canadian subsidiaries of General Motors and Chrysler. Officials from the Canadian and Ontario governments said today that the two do not qualify for $4 billion ($3.2 billion USD) in loans. However, Chrysler will be given $250 million ($200 million USD) today and GM will [...]
Now that General Motors and Chrysler have limited time to decide what they want to do with their future – we’re wondering if you have any tips for Bob Nardelli and GM’s new CEO, Fritz Henderson. The Obama administration said today that they will continue to fund General Motors for an additional 60 days while [...]
According to documents reviewed by ABC News, Rick Wagoner will walk away with a $20 million retirement package. Even though the U.S. Treasury has banned GM from giving retirement packages to Wagoner or any other senior executives, Wagoner is eligible to collect $20 million in retirement benefits. Wagoner was asked to resign his position of [...]
Acura announced today that its new four-door sport coupe crossover concept will wear the ‘ZDX’ badge (previously reported to be badge MSX) when it is unveiled at the New York Auto Show next week. Acura said that its ZDX will feature “striking coupe-like styling with the added benefit of a commanding presence and flexible utility [...]
Chrysler, Cerberus and Fiat have reached an agreement on a framework of a global alliance that will be supported by the U.S. Treasury – which means no final agreement for its proposed partnership with Fiat has been reached as of yet. In a statement released today after President Barack Obama’s speech, Bob Nardelli said “Chrysler [...]
