General Motors IPO
We asked last year if the new GM would be a cleantech play. It’s looking more and more like that’s the case. Yesterday, the company announced it would be rolling out a hybrid technology system called eAssist in the Buick Regal 2012 that will boost fuel economy by 25 percent. The system uses regenerative braking, power stored in a 0.5-kilowatt-hour lithium-ion battery and a 15-kilowatt induction motor-generator unit to get EPA ratings of 26 miles per gallon in city driving and 37 miles per gallon on the highway. The car is a four-door midsize “luxury” vehicle and is the...
GM Says More Government Money Not Needed--Though Rivals Took It
Well, give them credit for resolve, anyway. General Motors said today it was withdrawing its applications to the U.S. Department of Energy for $14.4 billion of low-interest loans under the DoE's advanced technology vehicle manufacturing program. That's the program that so far has granted loans to...John Voelcker
Big Success For GM's IPO, But Symbolism Sows Seeds of Worry
By all accounts, the initial public offering of General Motors stock yesterday was a huge success. Demand for the shares was five times the initial allocation, prompting the company both to raise the amount it sold and raise the price. At the end of the day, GM stock [NYSE:GM] closed higher than...John Voelcker