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The announcement coincides with GE’s submission this week for federal stimulus dollars from the US Department of Energy. GE has been exploring a “dual-battery” concept—optimized power and energy storage systems—with Chrysler for plug-in vehicles under a DOE-funded project. The initial investment in the factory will be $100 million.
In addition to the private capital, A123 is seeking funds under federal and state stimulus and other programs to ramp up its production capabilities in Michigan. A123 was recently awarded battery development and supply contracts for Chrysler’s first generation electric vehicle line-up and the Chinese automaker SAIC Motor Corp.’s
The economic impact of a General Motors or Chrysler bankruptcy is being debated across the country. Suppliers struggled to make money when industry volumes were almost double what they are today, and the consolidation that has occurred has been happening mostly among smaller companies at the lower tiers. Laura Marcero. Laura Marcero.
As March came to a close, the Obama administration found GM and Chrysler’s restructuring plans “not viable.” Chrysler was told to consummate with Fiat quickly or else. And these days a billion dollars is barely a rounding error in the money going to prop up the American auto industry. Can I charge my new EV here?
If you listen to US President Barack Obama it has been a long time coming – his decision to pour $2.4billion of stimulus money to make America a global leader in electric and hybrid car development comes as the country plays catch up to the likes of Japan and even China in the green car race (see article ). “I Who will benefit? Our verdict.
With few of us having the cash or credit to buy an expensive new addition, the bottom seems to have fallen out of the automotive industry which has been plunged into crisis. In the US, Chrysler and General Motors fell into bankruptcy; while in Japan even its major automakers have been left reeling from significant profit falls.
With payments of up to $4,500 for motorists willing to swap their ageing gas guzzling vehicles for more fuel efficient ones, it seemed like a ‘can’t lose’ scheme with consumers getting cheaper cars, the automotive industry enjoying more sales and the environment boosted by a reduction in harmful emissions. So is this scheme green at all?
and Chrysler struggle to come up with business plans that regulators will embrace. and Chrysler. .&# and Chrysler. Bob Lutz’s Latest Volt Test Drive Sprinting for Green Stimulus Dollars New Subsidies for Electric Cars in Britain Electric Car Makers: Oregon Wants You G.M. rolls toward bankruptcy. Whatever B.C.G.’s
GE: The global stimulus bellwether FORTUNE 500 Current Issue Subscribe to Fortune (Fortune Magazine) -- Warren Buffett is famous for his rules of investing: When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact.
The Three Prongs of the “Green&# Energy Stimulus Pa. V2G helps solve the major problem that demand for electricity is high during the day when everything from industrial plants to air conditioning is running full blast and then excess electricity is wasted at night. 2) Chevy Volt (2) China (2) ECOD3.SA SZ (1) 6753.T SZ (1) 6753.T
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