The latest from USA Today suggests now is a good time to buy a Chevy Volt, if that’s what you really want. I checked in with former(?) TTAC scribe Captain Mike Solo, currently helping someone lease a Volt, and he says about the same: lease for $270 a month, with $1500 down. Which includes the government tax credit built into the residual…probably. So what does this all mean? Read More >
GM wants the Treasury to sell its GM shares at a huge loss, says the Wall Street Journal. Nothing doing, says the Department of the Treasury. It does not appear to need the cash (it can have it printed if needed) and is holding out for a slightly smaller loss. Read More >
In his 2012 State of the Union address, President Barack Obama said this to critics of his lavish green technology initiative:
“I will not cede the wind or solar or battery industry to China or Germany because we refuse to make the same commitment here. “
Instead, battery manufacturers first get financed by double-green government handouts, then they are ceded. Read More >
The San Francisco Bay area will investigate a proposal to implement cost-per-mile driving, as a way to raise money for public transit and road repair while reducing pollution and congestion.
Porsche’s soon-to-be 100 percent owner Volkswagen is making money hand over fist. At the same time, the German tax payer is contributing 43.67 million euros to the expansion of Porsche’s plant in Leipzig, Germany, where the new Macan will be made starting in 2014. This has attracted the attention of EU competition regulators. Read More >
The irrational electrification exuberance claims another victim: Battery maker A123 Systems Inc is running out of money. A lot of it is your money. Says Reuters: Read More >
Even after its death, Saab is still good for some excitement. Today, the Wall Street Journal breathlessly reported that an “electric-vehicle consortium buys Saab assets.” When you click on the link in Google, you get your assets handed to you via a rude 404: Page not found. The same is happening with many sites that reported a sale of Saab’s assets to a company called National Electric Vehicle Sweden (NEVS), which is as Swedish as chopsticks.
What is behind those missing links? Who is the nice man who goes thumbs up next to China Communist Party Polit Bureau member Li Keqiang? And why has he allegedly just bought Saab? Read More >
We have a new winner in the MPGe brawl: Honda’s new all-electric 2013 Fit can go 118 miles on a gallon of imagined gas, measurement brought to you by your tax dollars and the EPA. Chevrolet meanwhile tweaked battery and electronics of its range-extended Volt for four miles more on the MPGe scale (95 to now 98, combined), and a slightly better electric range of 38 miles. The perception of customers remains conflicted. After all, they wanted to escape gas, and now they have to contend with simulated gallons. That’s just the beginning of the plug-in perplexity.
The electric leaderboard now looks like this: Read More >
Texas hopes that speed is addictive and will drive paying speed junkies to a new toll road that will open before the end of the year. Currently, if you want to drive 80 mph, and stay legal, you need to go to Texas or Utah, and there to pretty desolate parts. You may be able to go five miles faster on newly built Texas State Highway 130 between San Antonio and north of Austin. If approved by the Texas DOT, Hwy 130 would be the first road in the country to have a posted 85 mile per hour speed limit, News Radio WAOI says. Read More >
GM CEO Dan Akerson might be in another one of his battles with the truth.
In a softballed interview with Fortune, GM’s CEO Dan Akerson said that he was suddenly and surprisingly drafted to lead GM as if it was time to go to war. “This was a call to service for me,” said Akerson, as he wrapped himself in a red, white, and blue flag and regaled interviewer Geoff Colvin with stories from the U.S. Naval Academy. Akerson makes the CEO job sound like a hardship post: Read More >
A day before GM officially announced that the Astra production will be moved to Ellesmere Port, a move that is widely believed to seal the fate of Opel’s Bochum plant, we said that the decision won’t go down well in Germany, and that it will be very tough working with a doomed workforce. The workforce is already getting restive. Read More >
The Right to Repair law winds its way through the Massachusetts legislature. The law was approved in the Senate last week, says the AP via Businessweek The law now heads to the House of Representatives. If that sounds like deja vu to you, then your memory is excellent. Read More >
Minutes after Ally Financial, the bs-artist formerly known as GMAC, took its Residential Capital bankrupt, David Shepardson tweeted to his followers that all is fine:
“GM owns 9.9% of Ally Financial Inc, while
@USTreasuryDept owns 74 percent” Read More >
Coda Automotive withdrew a Department of Energy loan application after two years of waiting. The $334 million loan was supposed to have gone towards establishing an assembly plant in Columbus, Ohio, but for now, production will continue in China.
Car companies severing ties with Iran are making headlines. After GM’s new partner PSA decided to stop sending parts to Iran, Hyundai “has quietly ended its business dealings with Iran, where it had extensive operations,” says the New York Times. The Times chalks this up as a win for “United Against Nuclear Iran, an American group that has advocated economic sanctions.” UANI keeps a list of companies that still do business with Iran, it also lists companies that have withdrawn from doing so. Hyundai has received a check mark in the “withdrawn” list.
Detroit is looking nervously at that list. Let’s have a look as well. Read More >
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