Government bailout

  • A123 Systems Prismatic Cell

    Despite filing for bankruptcy protection yesterday, lithium-ion battery firm A123 Systems has said the factories where it makes electric car battery cells will be saved, thanks to a $125 million deal with automotive parts maker Johnson Controls. Already a huge Tier One global automotive parts supplier, Johnson Controls sells around 120 million lead-acid starter batteries a year to the automotive industry, as well as everything from instrument panels and information displays to headliners and floor consoles. The purchase of A123 Systems’ automotive business by Johnson Controls will not...

  • President Obama inspects the 2011 Chevrolet Volt
    Obama Administration Buys Electric Cars, Charging Stations

    The President may be currently abroad experiencing the horror of European ramps, but his government has been busy at home ordering the very cars its stimulus program has helped to fund. The General Services Administration responsible for the upkeep of the federal government’s 600,000 strong...

  • 2012 Chrysler 300 SRT8
    DoE's Chu Hopes Chrysler Can Play With Big Kids, Get Loans At Last

    Well, looks like Chrysler is getting closer to playing with the big kids at last. The back-from-bankruptcy third U.S. automaker, now effectively controlled by Italy's Fiat, is putting together a financial package that will allow it to pay off all the money invested in it by the Obama Administration...

  • GM Logo
    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...

  • 2011 Chevrolet Volt
    GM Confirms, Yes, We're Losing Money on Every Volt We Build

    Doug Parks, vehicle line executive for the 2011 Chevrolet Volt, GM's range-extended electric vehicle, confirmed Tuesday that the company loses money on every Volt it sells. This should hardly be a surprise. It's called R&D, folks Every major automaker spends billions of dollars a year on...

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