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Features
Nissan eyes emerging markets as '09 outlook dims
Nissan Motor Co. is embarking on a new five-year business plan that focuses on electric vehicles, cost cutting and emerging markets such as China, Russia and Brazil. Key to the push will be an ultra-cheap, entry level car for India. Costing $2,500 wholesale, it will go head-to-head with the highly anticipated Nano, being developed by Tata Motors. [REG] 8:54 am U.S. ET | May 13
HP strikes deal to buy EDS for $12.6 billion
Hewlett-Packard Co. plans to buy former General Motors unit Electronic Data Systems Corp. for $25 per share, the two companies said on Tuesday, or about $12.6 billion to better compete against IBM. The companies said the deal had an enterprise value, which includes debt, of $13.9 billion. [REG] 9:06 am U.S. ET | May 13
Ferrari shows a new baby GT with a historic nameFerrari has released the first official photos of its all-new "baby" eight-cylinder GT it is calling California. Ferrari fans and sports car enthusiasts have waited months for this news as the automaker has made it a point to staunchly deny the car's existence, despite repeated leaks from within Ferrari's Maranello, Italy, headquarters. [REG] 9:25 am U.S. ET | May 13 |
GM to close Canadian transmission plant
As it negotiates a new contract with the Canadian Auto Workers, General Motors Canada said today that it will close its transmission plant in Windsor, Ontario, in the second quarter of 2010. "There is not product available for the plant, and that's why the decision was made," said GM Canada spokesman Stew Low. "When that was apparent to the union, it was decided to make the announcement to employees as soon as possible." [REG] 1:19 pm U.S. ET | May 12 | UPDATED: 5/12/08 1:57 p.m. EDT
Toyota slows the rush into Miss. crossover plant
Days after posting a steep dip in earnings, Toyota Motor Corp. said it will slow down the launch of its new Highlander crossover assembly plant in Tupelo, Miss., by five months. A company spokesman in the United States said that in response to sluggish market conditions here, the plant will launch in May 2010 at a lower volume than originally planned. Instead of operating at 150,000 vehicles a year, Tupelo will produce at 120,000 a year. [REG] 9:24 am U.S. ET | May 12 | UPDATED: 5/12/08 1:51 p.m. EDT
Cadillac marketing director Vanzura leaving GMLiz Vanzura, global marketing director of Cadillac, confirmed today through a spokesman she will leave General Motors at the end of the month to move to the Boston area with her family. The relocation was sparked by her husband, who has a new job as an executive at Panera Bread Co. in Needham, Mass. [REG] 1:38 pm U.S. ET | May 12 |
U.S. firms sink on supplier listAfter a stormy decade of spinoffs, megamergers, acquisitions, grand expansions and occasional red-faced retreats, the pecking order for North America's auto suppliers has a distinctly new look: Americans no longer are running the show. For the first time, a company based outside the United States is the largest supplier of parts to automakers and other suppliers' North American factories. [SUB] 12:01 am U.S. ET | May 12 |
Clarke: Buyers don't know Saturn brandSaturn's problem with potential buyers? It's worse than a lack of consideration. Buyers are barely aware of Saturn. That means that Saturn has to revamp its marketing to build awareness of the brand and its new vehicle lineup, says Troy Clarke, president of General Motors North America. [SUB] 12:01 am U.S. ET | May 12 |
Factories punish rogue exporters
As the weak dollar continues to make U.S. goods a bargain, automakers are cracking down on U.S. dealers who are exporting a growing number of new cars and trucks to foreign customers on the gray market. In some cases, though, dealers say they're unwitting and unwilling participants who have no idea the vehicles they sell are going overseas. [SUB] 12:01 am U.S. ET | May 12
VW to decide on U.S. plant in July
German car maker Volkswagen AG will decide in mid-July on whether to set up a U.S. assembly plant to fend off the impact of the weak dollar, the company's CEO told German newspaper Handelsblatt. "We will put the issue of the U.S. plant to the supervisory board before the summer break in July," CEO Martin Winterkorn told the business daily in an article to be published on Tuesday. [REG] 8:00 am U.S. ET | May 12
Lamborghini picks L.A. for U.S. HQ
Turns out you can't spell Lamborghini without L.A. Automobili Lamborghini has created a separate sales arm for its North American operations --the first such business unit outside of Italy. It will be headquartered in the beachside Los Angeles suburb of Santa Monica. [REG] 12:01 am U.S. ET | May 12
Calif. air-quality boss: I'll fight for other states' CO2 rules
California's chief clean air regulator said today she would oppose a compromise that would allow her state to enforce greenhouse gas emissions rules while denying that authority to other states. “We do not want to negotiate away other states' rights,” Mary Nichols, chairwoman of the California Air Resources Board, told reporters. [REG] 4:30 pm U.S. ET | May 12
Hayes Lemmerz to close wheel plant in Ga.
Hayes Lemmerz International Inc. said it plans to close a plant in Gainesville, Ga., as global overcapacity for aluminum wheels has led to cheaper imports coming into North America. Some production at the plant will move to Hayes' aluminum wheel plant in Mexico. Gainesville, which employs about 290, will close by year end. [REG] 12:49 pm U.S. ET | May 12
Renault seen investing up to $1B in electric car
The head of an Israeli-backed electric car project estimated on Sunday that its partner, the Renault-Nissan alliance, would likely invest $500 million to $1 billion in the swappable-battery electric cars. "This is the cost for a three-year car programme," Shai Agassi, the founder and CEO of California-based Project Better Place, said on the sidelines of a news conference to introduce the electric car prototype. [REG] 12:01 am U.S. ET | May 12
TRW expanding headquarters in suburban Detroit
Supplier TRW Automotive Inc. is adding a $14.2 million expansion to its North American headquarters in suburban Detroit. TRW, which makes steering, suspension, braking and engine components, is adding a 94,000-square-foot building, its fifth, to the company's campus in Livonia, Mich. The new building is expected to come online by January 2009, company spokesman John Wilkerson said. [REG] 4:07 pm U.S. ET | May 12
Toyoda Gosei to build plant in Mexico
Toyoda Gosei North America Corp. said today that it plans to build a sealing components plant in San Luis Potosi, Mexico, that will begin production in October. [REG] 3:45 pm U.S. ET | May 12
Toyota exec: Maybe it's time to raise a Prius hybrid familyA family of hybrid vehicles carrying the Prius badge could be the best way for Toyota to leverage its alternative-fuel technology, Toyota's top U.S. executive said. Toyota has tried to promote its Hybrid Synergy Drive technology as a kind of brand -- for example, making it the subject of advertising campaigns. All Toyota and Lexus hybrids carry the badge prominently. [SUB] 12:01 am U.S. ET | May 12 |
Chevy Traverse, Ford Flex face off this yearTheir minivans bombed, so Ford and Chevrolet are pinning hopes on their newest people movers, two strikingly different crossovers. The 2009 Ford Flex and 2009 Chevrolet Traverse will join one of the few remaining strong segments, mid-sized crossovers. The Flex and the Traverse will debut within about three months of one another and are aimed at the same buyers: people who relish value and price. [SUB] 12:01 am U.S. ET | May 12 |
Chrysler: Jeep seats from India make senseChrysler LLC will fly in the face of conventional wisdom and import rear seats for the Jeep Wrangler from a seat supplier in India, according to Tom LaSorda, co-president. The India seat project is part of Chrysler's effort to source more parts from China, India and other low-cost countries. The automaker also is building up engineering capacity in those countries. [SUB] 12:01 am U.S. ET | May 12 |
VW, Sanyo to develop lithium-ion battery
German carmaker Volkswagen and Japan's Sanyo Electric Co. will jointly develop a lithium-ion battery to be used in hybrid and electric cars, the Nikkei financial daily reported on Sunday. Volkswagen will aim to start importing and using the battery in its hybrid and electric cars by 2012, the newspaper said. [REG] 12:01 am U.S. ET | May 12
Renault, Nissan, Bajaj form low-cost car venture
Renault-Nissan and India's Bajaj Auto said on Monday they would form a joint venture to develop a low-cost car, joining a growing list of carmakers eager to tap emerging markets and as soaring oil prices drive a move to fuel-efficient "green" cars. [REG] 4:30 am U.S. ET | May 12
Kia to bring small car to U.S.Kia Motors Corp. plans to export its new Soul small car to the United States and China in March, says a Kia source. The five-seater will be produced for the Chinese market at a Kia plant in China in December 2009. The source declined to be identified because he is not authorized to talk about the matter. [SUB] 12:01 am U.S. ET | May 12 |
Nissan plans wide range of electric vehiclesWhile many in the industry ponder whether electric cars are viable, Nissan Motor Co. CEO Carlos Ghosn is preparing to plunge into the market. Ghosn sees potential for 10 million global electric-car sales per year in cities such as New York, Washington, London, Paris and Mumbai, India. And he wants Nissan and its partner, Renault, to be a major player. [SUB] 12:01 am U.S. ET | May 12 |
As U.S. waits, Chrysler sends cars made in China to MexicoBy year end, Chrysler LLC will start shipping a China-made car to Mexico, says the car's manufacturer, Chery Automobile Co. Still under discussion are Chery-built cars for U.S. dealers of the automaker. The car for Mexico, sold in China as the Chery A1, will be badged with a Chrysler brand, says Zhang Lin , general manager of Chery International. [SUB] 12:01 am U.S. ET | May 12 |
