General Motors

GM Planning to Build another Vehicle with Electric Powertrain

GMGeneral Motors, a leading automaker, has been planning to use its Detroit-Hamtramck Assembly plant for the development of an electric Cadillac ELR, reveals a latest report. The announcement regarding the same was made today at the Detroit’s SAE Convergence conference by Mark Reuss.

Obama’s Set Target for Electric Cars Seems Achievable

Electric-CarsBarack Obama’s set target of getting plug-in hybrid vehicles, which he had mentioned while he was a 2008 presidential candidate, is being seen close to its achievement, as per a recent report.

GM India on a high

GM India on a highSince the point of time that Indian subsidiary of the American auto major, General Motors has launched a sibling to Spark in the Indian market in the form of Beat, it has been able to grow by leaps and bounds.

In fact, continuing its sales momentum in the country, the company has registered a 34% growth in the month of August 2010 as it sold 7941 units in August 2010 against 5939 units in August 2009.

GM to Raise Money Internally

Nick ReillyGeneral Motors has now agreed to internally fund its restructuring process. The Company was earlier looking to raise €1.8bn (£1.5bn) in loan guarantees for its Opel/Vauxhall subsidiary. But its move to withdraw these requests has surprised everyone.

General Motors Arrives on Cost Savings Agreement with Opel’s Employees

GM-OpelGeneral Motors Co. arrived at an agreement on cost savings with Adam Opel GmbH employees to help fund a restructuring of the non-profitable division, a person aware of the situation said.

Details of the deal will be declared today by Nick Reilly, Opel’s Chief Executive, and Klaus Franz, the unit’s top Labor Leader, the person said, who preferred to remain anonymous since the agreement has not been exposed to public as yet.

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