Correspondent, Detroit
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May 22, 2013
May 22, 2013

Electric carmaker Tesla pays off U.S. loan

DETROIT, May 22 (Reuters) – Electric carmaker Tesla Motors
Inc on Wednesday paid off its U.S. Department of Energy
loan nine years earlier than required, using money raised last
week in a stock and debt offering.

The automaker said on Wednesday that it wired $451.8 million
to repay the full loan with interest.

May 22, 2013
May 20, 2013

GM gearing up for big ad push for crucial new pickups -executive

DETROIT, May 20 (Reuters) – The launch of General Motors
Co’s redesigned Chevrolet Silverado, the most important
since the automaker’s bankruptcy and $50 billion taxpayer-funded
bailout in 2009, is on track and advertising for its full-size
trucks should begin in a few weeks, a top GM executive said on
Monday.

Mark Reuss, head of GM’s North American operations, said the
launch of the 2014 Silverado and GMC Sierra pickups is going
“really good” and there had been no hiccups to slow the rollout.

May 17, 2013
May 14, 2013

Cost to be big factor in ‘talking’ cars acceptance -U.S. transport chief

, May 14 (Reuters) – Cars that “talk” to
each other to avoid crashes or traffic jams, like those being
tested here, will save lives but the cost of the systems will
determine consumers’ acceptance of such technology, the U.S.
transportation secretary said on Tuesday.

“These are definitely safer vehicles. At what cost though?”
Ray LaHood told reporters at a connected-vehicle conference in
Ann Arbor, Michigan. “To me, that’s what the bottom line’s going
to be. Safety has a cost and we’re going to have to make that
judgment.”

May 5, 2013
May 4, 2013

Auto industry love for Mexico grows with new Audi plant

SAN JOSE CHIAPA, Mexico (Reuters) – The automotive industry’s growing love affair with Mexico was celebrated here on Saturday as Audi executives laid the foundation stone for its first assembly plant in the Americas.

Volkswagen AG’s (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) premium brand is joining a parade of automakers who have announced plans to build cars in a country that is seen as a doorway not only to the rest of North and South America but to the world. Audi officials said the $1.3 billion plant will open in three years and eventually be the German brand’s only source globally for its Q5 SUVs after it opens in mid-2016.

May 2, 2013

GM profit tops view as North America strong, Europe improves

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research) posted stronger-than-expected quarterly profit on Thursday as the U.S. automaker kept a tight grip on costs in its North American and European businesses.

GM shares rose 3.6 percent to $31.27, near their initial public offering debut of $33 in the fall of 2010, and hit the highest point since July of 2011.

May 2, 2013
    • About Ben

      "Ben Klayman is based in Detroit and in April was named leader of the global automotive team for Reuters. Previously, Ben covered the business of sports as well as consumer and retail for three years and led the manufacturing/housing team for four years. He also covered the telecommunications sector for three years. He joined Reuters in Detroit in 1998 to cover autos. Prior to joining Reuters, he worked at a series of daily newspapers in Ohio and Maryland. Ben graduated from Washington University in St. Louis in 1989 with a bachelor's degree in English literature."
      Hometown:
      Washington, DC
      Joined Reuters:
      1998
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