The Obama administration hopes the new General Motors will have an initial public offering next year but has no "blueprint" for extricating itself from its ownership stake in the company, auto task force member Ron Bloom told Congress today.
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Ford Motor Co. is so intent on standardizing factories and assembly plants worldwide that no money can be spent on plants unless the expenditure improves standardization, Ford manufacturing chief Joe Hinrichs said Tuesday evening.
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Japanese electronics giant Hitachi Ltd., which will supply lithium ion batteries to General Motors next year, says it has developed a fourth-generation battery that is 50 percent more powerful than the current version.
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Strong vehicle exports and manufacturing flexibility have allowed BMW's U.S. plant to weather the economic downturn without layoffs or derailing a $750 million expansion, the factory's chief says.
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General Motors has reversed its decision to wind down about 30 dealerships and is reviewing about 500 more requests from dealerships for a reversal. On May 15, GM sent termination letters to 1,124 dealerships.
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When Italy's Fiat S.p.A. closed its deal with Chrysler today, the U.S. automaker again fell under European ownership after almost two years of control by private equity firm Cerberus Capital Management LP.
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A new Chrysler, culled from the best assets of the old company and led by Fiat, became a reality Wednesday.
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In today's News Brake: Two Michigan businessmen say they put in bids for the Dodge Viper business but were denied; more details spill out in the battle between NASCAR and suspended driver Jeremy Mayfield; and the "cash-for-clunkers" bill moves...
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Honda Siel Cars India has set up a research and development division at its Greater Noida facility, as it strives to reduce costs and increase parts localisation in India.
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Lear remains in talks with lenders and potential investors to restructure its debt-laden balance sheet and the discussions are "constructive," a top executive said.
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Rieter may consider breaking its business into separate entities, as the global recession continues to take its toll.
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An analyst at Global Insight has said that Magna's profit forecasts look 'highly aggressive' and that elements underlying the deal appear precarious - in particular the state of the Russian car market and arrangements for future Chevrolet sales.
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The White House today welcomed the completion of Italian carmaker Fiat S.p.A.'s takeover of Chrysler and said the new alliance was "poised to emerge as a competitive, viable automaker."
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China has halted imports of Renault cars because of "serious safety risks" and failure to meet technical standards, according to the country's quality inspection agency.
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Beijing Automotive Industry Holdings Co Ltd (BAIC) may bid for GM's Saab unit after missing out on Opel, according to Chinese media reports.
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Rolls-Royce has received around 1,500 serious expressions of interest in its soon to be launched Ghost model - a figure that would more than double the group's annual sales.
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Toyota Kirloskar Motors is planning multiple use of the new compact platform its parent company is developing for the launch of a small car in India later next year. A sedan is among the body variants being planned.
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In the months leading up to General Motors filing for bankruptcy, executives of the automaker warned that Americans wouldn't buy new cars and trucks from car company in bankruptcy.
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Desperate to eliminate red ink, General Motors thinks it has created a factory method to build small vehicles profitably in North America. GM calls the method "interbuildability."
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