For the first time since a long time of 28 years, Buick is making a come back and is on the front cover of Motor Trend magazine April 2010 edition. It features two Buick; a drive review of the new 2011 Regal called “International Rescue” and “Trading Places,” a comparison of the 2010 LaCrosse and the 2010 Lexus ES350, in which LaCrosse emerges the winner.
GM announced that it will add a third shift at its Lordstown, Ohio complex. About 1,200 new positions to support production of the 2011 Chevrolet Cruze compact car. Up till now, the Chevrolet Cruze program represents a $500 million investment in U.S. manufacturing operations, and about $350 million of the $500 million was used to re-tool the Lordstown facility.
The economic crisis hit Opel hard in Europe where it can no longer sustain its operation with the slow sales. The company, which is owned by GM, announced today the intent to wind down its manufacturing plant in Antwerp, Belgium in 2010; the Belgium car plant has been in operation since 1920. The decision to announce the bad news was not taken lightly, but it is the unfortunate current business reality.
GM’s Ecotec 2.4L I-4 has been awarded Ward’s Auto World magazine’s 2010 “10 Best Engines” for North America. If you have been following GM cars lately, you can see that most of GM’s fuel economy cars are equipped with an Ecotec 2.4L engine. The range of GM’s cars from small compact cars to SUV that are equipped with this Ecotec 2.4L engine. What is so special about this engine? Well, for starter, it is a very fuel efficient engine that can get up to 32 mgp highway on such SUV as the GM Equinox.
The urge is on to bring the Corvette Stingray back on the drawing board. The team at GM envisions a Corvette Stingray comeback with new dynamic styling and enhanced technology more than all the iPhone apps put together, well sort of. The Corvette Stingray Concept styling is borrowed from the Transformers: Revenge of the Fallen movie, which has sharp edges and aerodynamic facial like the “Sideswipe” character in the movie.
What is so disgruntle about this letter, you tell me? Please GM, don’t pull this kind of stunt again. Your title of the article is far from the truth. Adam, you are an idiot if you think that we’re going to buy into this; it makes you and GM less creditable. Next time just let the press do the talking, and keep your private letters to yourself. Check out the commons from bottom.
[Source: GM]
- Adam Denison, Chevrolet Communications
—-I just have way too many problems with this car. Let’s start with the exterior:1. The styling is too aggressive.I’m a pretty passive person by nature and I don’t want the personality of this car to project onto me. The front looks like a snarling animal ready to pounce. Scary.2. The paint is too shiny.I spent last Saturday applying ZAINO to the car and I must have done it wrong because I can’t even tell what color it is anymore (Victory Red, BTW). All I can see is shine and reflection.
This is interesting technology. Uncle Sam just granted GM $2.7 million dollars of your tax money for the research of memory alloy, which can turn exhaust heat into reusable energy by contracting and cooling the metal alloy. This energy would be used to power your car seats or radio..etc., really? Are there not enough car electricity in the first place? Why spend more money into the research of a to be outdated technology (combustion engines). Instead, put that money into good use like electric vehicle research? No wonder GM falls behind, it is always one step behind in the automotive trend. GM needs to look farther into the future. Well, enjoy diagram above if you must know.
[Source: GM]
WARREN, Mich. — The day is coming when the heat from your car’s engine exhaust is captured and converted to mechanical energy capable of powering your vehicle’s stereo, power seats and air conditioning.General Motors R&D received a $2.7 million federal award Monday that will help build a prototype using Shape Memory Alloy, or SMA, that would generate electricity from the heat in automotive exhaust.
General Motors Company is building new car plants in Flint, Michigan. The new car plants will host the production of the 2011 Chevrolet Cruze and Volt. The plants cost about $230 million to build, which will provide more than 500 jobs to the community. The four manufacturing plants are divided into 4 different manufacturing capabilities.
[Source: GM]
Finally a deal has struck between General Motors and China’s Sichuan Tengzhong Heavy Industrial Machinery. The agreement for GM to offload Hummer onto the Chinese company. The deal reached with Tengzhong taking an 80 percent stake and a private investor consuming the rest. GM will make about $150 million through this deal. The deal has to be approved by both the U.S. and Chinese governments by the beginning of 2010.
Good written Hummer! America really doesn’t need another SUV or truck or whatever you call it. Currently GM is run by Uncle Sam, and Uncle same is going green.
PRESS RELEASE
General Motors and Tengzhong Sign Definitive Agreement For Sale of HUMMER
DETROIT and SICHUAN, Oct. 9, 2009 – General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong), today announced that the companies have entered into a definitive agreement that will allow Tengzhong to acquire GM’s premium all-terrain HUMMER brand.
Under the terms of the definitive agreement, the buyer will acquire the ownership of the HUMMER brand, trademark and tradenames, as well as specific IP license rights necessary for the manufacture of HUMMER vehicles. The buyer will also assume the existing dealer agreements relating to HUMMER’s dealership network.
Tengzhong intends to purchase HUMMER through an investment entity, in which it will hold an 80 percent stake. Mr. Suolang Duoji, a private entrepreneur with holdings that include the Hong Kong-listed thenardite producer Lumena, will hold the remaining 20 percent stake. Financial terms of the agreement were not disclosed.
The transaction is subject to customary closing conditions and regulatory approvals and/or review by government agencies in the U.S. and China. The completion of the definitive agreement enables the companies to continue and further the overall regulatory review process.
“HUMMER is a strong global niche brand and this agreement signifies another important milestone in writing the next chapter for both GM and HUMMER,” said Fritz Henderson, GM President and CEO. “For HUMMER, the combination of its knowledgeable leadership team, vehicle design expertise and the capital financing of Tengzhong portend a successful future.”
Under the agreement, HUMMER would contract vehicle manufacturing, key components and business services from GM during a defined transitional time period. For example, GM’s Shreveport assembly plant would continue to contract assemble the H3 and H3T and AM General’s Mishawaka assembly plant will continue to assemble the H2. Both facilities will produce the specified vehicles until June 2011, with an optional one year extension until June 2012. The deal is expected to secure more than 3,000 jobs in the U.S. related to the sale and manufacturing of HUMMER vehicles.
HUMMER will continue to be managed by members of its existing leadership team including James Taylor, who will remain in his current role as HUMMER’s chief executive officer. Prior to joining HUMMER, Taylor was General Manager of Cadillac where he oversaw a reinvigoration of the brand, leading key innovations in design and technology as well as the development of new models.
“We are fortunate to have a partner who understands and recognizes the importance of continuing investment in HUMMER’s heritage as a U.S.-based and branded company with a view toward capitalizing on global opportunities,” said Taylor. “Backed by a privately owned and well-capitalized company, we are going to be able to focus on providing customers with more efficient models that deliver HUMMER’s promise of authentic, purpose-built design and engineering.”
Once the transaction is complete, HUMMER will become the first automaker to offer an alternative fuel powertrain in every model, with the addition of E85 FlexFuel capability in the 2010 H3 and H3T. HUMMER is also in the process of obtaining emissions certification for a diesel H3 that will be introduced in markets outside of North America. The brand’s future product development will focus on improving efficiency and performance in current HUMMER models with alternative fuel powertrains, more efficient gas engines, 6-speed transmissions and diesel engines.
“This transaction marks an exciting step for both Tengzhong and HUMMER, as we invest in a business that has significant opportunity in the U.S. and around the globe,” said Yang Yi, chief executive officer of Tengzhong. “We are excited about some of the initiatives already underway at HUMMER that we believe our investment will be able to accelerate, particularly related to the creation of the next generation of more fuel-efficient vehicles to meet not only future regulations but also customer expectations.”
Credit Suisse is acting as exclusive financial advisor and Shearman & Sterling is acting as international legal counsel to Tengzhong on this transaction. Citi is acting as financial advisor to GM.
For more information on the agreement go towww.transactioninfo.com/tengzhong.
The new GM Volt expected to arrive by mid of next year 2010. The Volt is the first pure electrical vehicle which is driven by an electrical motor. The motor uses electricity generated by an internal gasoline combustion engine in addition to a battery pack. GM did the MPG test based on EPA’s draft guideline for determine miles per gallon.
In normal condition, the Volt uses power from its battery pack to run the electric motor up to a 40-mile range. When the power in the battery pack reaches below 35%, the small internal combustion engine automatically starts to generate electricity to power the motor as well as recharging the battery. With the battery pack and internal gasoline engine, the Volt can reach up to a total range of 300 miles. If you have an outlet in your garage, the Volt’s battery pack can be recharged from a standard home outlet. For those who live in an apartment with a carport, this could be a hinder because most of those carports don’t have an electrical outlet. But this won’t be a break point of your buying decision because of the Volt’s 230 MPG. Just hope that GM’s claim stay true to production.
As for pricing goes, the first production due this mid 2010 will cost about $40,000. At this price range, the Volt will be out of reach for many buyers whose main reason was to save money on gasoline. Give or take, you will get about $5,000 incentive from the government for buying a green car. Even with that kinda of incentive, it won’t offset by the initial pricing very much.
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