Chrysler Group LLC today reached reached a debt-refinancing deal that will allow the automaker to repay $6.6 billion in bailout loans from the U.S. and Canadian governments this quarter. “Chrysler Group LLC announced today that it intends, subject to market and other conditions, to repay in full the outstanding obligations under the loans provided to [...]
President Obama has been more than adamant about his goal of having 1 million EVs on US roadways by 2015. The administration and a leading industry trade group agree however, that it remains an unlikely mark to hit, unless there is a serious turbo-charge tot he sales effort. In a one-hour meeting with White House [...]
The White House and Congress closely adverted a partial government shutdown on Friday by agreeing to cut $38 billion from this year’s budget, which finances operations through September 30th. The deal to finance government operations for the next six months killed Obama administration’s ‘car czar’ job and cuts funds into at least two federal vehicle [...]
The Obama administration has big goals of putting 1 million hybrid and electric-vehicles on U.S. roads by 2015. According to Andy Palmer, a senior vice president of Nissan, the goal is ‘reasonable’ if the government builds hydrogen fueling and electric-charging station nationwide. “Carmakers can’t go and put hydrogen fueling and charging stations throughout the U.S., [...]
President Barack Obama is making an other trip around the United States to promote fuel-efficient vehicles. This Friday, Obama will head down to Indianapolis to visit Allison Transmission Holdings Inc. Obama will travel to the facilities of Allison Transmission Holdings Inc. “to continue discussing his long-term plan to protect consumers against rising oil prices and decrease [...]
Earlier this week, President Barack Obama announced that starting 2015, all new cars and trucks bought by the federal government will be either hybrids, EVs, and other alternative-fuel vehicles. However, some federal vehicles for law enforcement and security purposes will be exempt from President Barack Obama’s directive – and that includes his very own Presidential [...]
President Obama announced yesterday that starting 2015, all new cars and trucks bought by the federal government will be either hybrids, EVs, and other alternative-fuel vehicles. Currently, the government operates a fleet of more than 600,000. The administration also plans to form partnerships with private companies who seek to upgrade their larger fleets to alternative-fuel [...]
According to a top advisor for Obama, the adminsitration is more concerned with a quick divestment of its remaining shares of GM, than ensuring maximal taxpayer ROI. “The writing is clearly on the wall that the government is getting out of the GM position,” Council of Economic Advisors Chairman Austan Goolsbee told reporters at a [...]
The House of Representatives is expected to vote this week on a proposal to prohibit the Treasury Department from hiring an auto ‘czar’. The measure is part of a larger bill sponsored by Republican Congressman Steve Scalise of Louisiana that would eliminate funding for nine ‘czars’ employed by the White House and other agencies. The [...]
A blue-ribbon panel has issued a report in which it says that President Obama’s goal of putting 1 million EVs on US roads by 2015 is unlikely to be met. The panel, based out of Indiana University, has met opposition from at least one environmental group. “The production intentions of automakers are currently insufficient to [...]
