Only three U.S. presidents in history have visited the Detroit Auto Show in its century-plus of existence: Dwight D. Eisenhower in 1960, Bill Clinton in 1999, and now Barack Obama, yesterday. At various points during the day, the president lauded the ongoing recoveries of the city of Detroit itself as well as the domestic automakers, including the two that declared bankruptcy in 2009 and had to be rescued with government-backed restructurings early in his administration. Show organizers noted that Obama stopped at several different exhibits, including those of Chevrolet, Fiat Chrysler, and...
A123 Electric Car Battery Plants Saved From Bankruptcy By Auto-Parts Maker
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...Nikki Gordon-Bloomfield