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Jan 12, 2011

Volvo seeks “2nd home market” in China

DETROIT (Reuters) – Volvo Car expects China to become its biggest market as early as next year and its “second home market” after Sweden as the Chinese-owned automaker looks for sales to grow more than six times by 2015, a top company executive said.

Volvo, owned by the parent of Chinese automaker Geely Automobile Holdings Ltd (0175.HK: Quote, Profile, Research, Stock Buzz), is aiming to boost sales in China to 200,000 cars by 2015 from a little over 30,000 last year, riding the wave of rapid growth in the world’s biggest market, especially for premium vehicles, the head of its China operations said.

Jan 11, 2011

Toyota sees Tesla EV battery cost at 1/3

DETROIT (Reuters) – Toyota Motor Corp’s (7203.T: Quote, Profile, Research, Stock Buzz) (TM.N: Quote, Profile, Research, Stock Buzz) top engineer said the batteries that would power the electric RAV4 crossover being developed with Tesla Motors (TSLA.O: Quote, Profile, Research, Stock Buzz) could cost as little as one-third of the electric car batteries being developed by conventional automakers.

Silicon Valley startup Tesla links together thousands of lithium-ion batteries used in laptops to power its zero-emission Roadster sports car, while automakers with electric models such as Mitsubishi Motors Corp (7211.T: Quote, Profile, Research, Stock Buzz) and Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) use expensive batteries developed specifically for EV use.

Jan 7, 2011

Special Report: How Ford became Detroit’s last man standing

DETROIT (Reuters) – Bill Ford Jr. just can’t let the good times roll.

In late December, Ford, 53, was on a family ski vacation in Colorado but found himself unable to put aside dark visions of how too much success could lead to the next crisis for the auto industry.

As Ford Motor Co prepared to close the books on its biggest comeback year for sales and earnings since the 1980s, Ford was talking to friends about the risk of gridlock choking booming urban centers from Sao Paolo to Shanghai — and potentially choking auto sales, too.

Jan 7, 2011

How Ford became Detroit’s last man standing

DETROIT, Jan 7 (Reuters) – Bill Ford Jr. just can’t let the
good times roll.

In late December, Ford, 53, was on a family ski vacation in
Colorado but found himself unable to put aside dark visions of
how too much success could lead to the next crisis for the auto
industry.

As Ford Motor Co (F.N: Quote, Profile, Research) prepared to close the books on its
biggest comeback year for sales and earnings since the 1980s,
Ford was talking to friends about the risk of gridlock choking
booming urban centers from Sao Paolo to Shanghai — and
potentially choking auto sales, too.

Dec 16, 2010

Cadillac working on luxury plug-in hybrid -sources

DETROIT, Dec 16 (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) has
been working to develop a plug-in hybrid vehicle based on its
Cadillac SRX crossover, two people with direct knowledge of the
work said.

The Cadillac plug-in would share some of the technology
that GM has developed for its Chevrolet Volt over the past four
years, allowing the automaker to bring down the cost of its
emerging electric car offerings, one of the sources said.

Dec 14, 2010

GM offers U.S. factory job buyouts

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) said on Monday it wants to cut as many as several thousand U.S. skilled trades workers through retirement incentives, its first attempt to reduce factory jobs since its 2009 bankruptcy.

GM has offered $60,000 to skilled trades workers who retire or leave the automaker’s payroll, spokesman Chris Lee said. The automaker currently has “a couple thousand” more skilled trade workers than it needs, Lee said.

Nov 24, 2010

Chevy Volt tops Prius in fuel economy rating

DETROIT (Reuters) – General Motors Co said on Wednesday its Chevy Volt plug-in hybrid will carry an overall fuel economy rating of 60 miles per gallon, topping the Toyota Prius, the industry’s long-time fuel economy leader.

GM has begun to assemble the long-awaited Volt at a Detroit-area factory, with initial sales expected in December.

Nov 18, 2010

GM readies market return after blockbuster IPO

DETROIT/NEW YORK (Reuters) – General Motors Co prepared for a dramatic return to the stock market on Thursday, a day after completing the largest U.S. share offering and less than a year and a half after emerging from a landmark bankruptcy.

GM shares were set to begin trading on the New York Stock Exchange and the Toronto Stock Exchange on Thursday, capping the first stage of a turnaround that has taken the 102-year-old automaker from near-death in 2008, to bailout in 2009, to unlikely Wall Street favorite in 2010.

Nov 17, 2010

SAIC stake in GM yet to win China OK -sources

DETROIT/NEW YORK, Nov 17 (Reuters) – China’s government has
not yet approved state-run automaker SAIC’s plans to take a
stake in General Motors Co [GM.UL], making it uncertain whether
the deal can be completed as part of the U.S. automaker’s IPO,
two people familiar with the matter said on Wednesday.

GM and SAIC Motor Corp Ltd (600104.SS: Quote, Profile, Research, Stock Buzz) have been in
wide-ranging discussions since the summer on ways to expand
their cooperation beyond the China market, where they are
joint-venture partners, people with knowledge of those private
talks have said.

Nov 17, 2010

SAIC stake in GM yet to win China OK -sources

DETROIT/NEW YORK, Nov 17 (Reuters) – China’s government has
not yet approved state-run automaker SAIC’s plans to take a
stake in General Motors Co [GM.UL], making it uncertain whether
the deal can be completed as part of the U.S. automaker’s IPO,
two people familiar with the matter said on Wednesday.

GM and SAIC Motor Corp Ltd (600104.SS: Quote, Profile, Research) have been in
wide-ranging discussions since the summer on ways to expand
their cooperation beyond the China market, where they are
joint-venture partners, people with knowledge of those private
talks have said.

    • About Kevin

      "Kevin Krolicki is Reuters bureau chief in Detroit where he has been based since 2006. He has also worked as an editor and reporter in Los Angeles and Tokyo."
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