Posts Tagged ‘GM’
GM Plant, Hybrid Car Company Purchased
U.S. hybrid car producer, Fisker Automotive, will operate again in the Delaware General Motors factory that was closed to build fuel-efficient vehicles, electric cars.
Vice President of the United States, Joe Biden, said at local time, reopening the plant was part of the government’s determination to start producing Obama’s fuel-efficient vehicles in the world’s largest economy. ”Thanks to a real commitment from government, loans from the Department of Energy, U.S. corporations creativity and resilience of large government partners, such as Delaware, we’re on our way to help the U.S. auto industry to return to the top position in world markets,” said Biden.
Fisker Automotive said it has signed a memorandum of understanding with Liquidation Motors Co.., (MLC), formerly known as General Motors Corp., To purchase the Wilmington factory worth U.S. $ 18 million. Investors that the company owners said it would spend additional funds worth U.S. $ 175 million to update and retool the factory for three years.
The funds came from a conditional loan worth U.S. $ 528.7 million from the Department of Energy provided to the company in September. This loan is part of the Advanced Technology Vehicle program Manufakture loans worth U.S. $ 25 billion, which was prepared by the Congress in 2007. Meanwhile, the remaining funding requirement of U.S. $ 169 million is a loan from Fisker which will be spent in a place that company in California and Michigan.
Fisker will use the plant in Wilmington to work on projects that produce electric vehicles Nina’s family oriented. The plan, Fisker start production in late 2012 and will be full-capacity vehicles 75000-100000 units in 2014. This new hybrid vehicle will be drawn by an electric motor-powered lithium-ion batteries. When the battery is discharged, the car will be powered by a generator driven gasoline engine. The car would be sold for about U.S. $ 39,900 after deduction of state tax credits
GM Hold eBay to Sell New Cars
General Motors and eBay on Monday announced, will begin selling new cars and trucks in the online auction site. This program will initially involve 225 Chevrolet car dealership, Buicks, Pontiac, and GMC in California, GM and eBay said in a statement. Customers will be able to click and buy vehicles online at the website beginning Tuesday, September 8th gm.ebay.com after browsing through an online exhibition space, negotiating prices, and arrange financing with agents.
“Buyers can see different options up to 20,000 new GM vehicles at very competitive prices,” they said. EBay already offers many of the popular used car through eBay Motors site. GM was the first U.S. automaker to offer a new vehicle online through eBay. Vehicles that can be purchased through regular eBay Buy it Now format, which means the buyer agrees to pay the advertised price. Or through the Best Offer option which means that the buyer indicate they are willing to pay that price. “With 12 million car buyers who visit our site every month, eBay Motors is distinctive about the people who prefer to buy a car,” said Rob Chesney, vice president, eBay Motors. ”Through this program, we will help GM dealers to physically expand their exhibition space,” he said.
GM’s Opel intends Sell
New board of directors of General Motors, consider selling the unit Opel, Europe, at the first meeting since the company’s automotive received bankruptcy protection. GM Chief negotiators said last week that a bid by a Belgian investment group RHJ International will be easier to implement than one by a Canadian group Magna.
But German government – which offers up to 4.5 billion euros (U.S. $ 6.4 billion) in cheap loans and Guaranteed loan as part of the rescue for Opel – Magna offering support, for fear RHJ will cut the number of employees.
A spokesman for GM’s men refused to say when the sale decision will be made. ”This is a complex problem and much work to be done to get the best solution,” said spokesman Tom Wilkinson. GM and Magna have signed the treaty, but the conversations they experience an impasse.Therefore, bidding GM RHJ has been allowed to negotiate with Magna to gain a stronger position.
