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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

UK Government cuts car aid, EV grants at risk

By Tim Pollard Motor Industry 30 June 2010 15:48 Britain's business secretary Vince Cable today fired a warning shot across the bows of the car industry, saying that subsidies would end and warning that the pledged £5000 subsidy off the first electric cars was in peril.'Our starting point is very clear,' he told delegates at an automotive summit arranged by the Society of Motor Manufacturers and Traders. 'We've moved on from the era of subsidies. We just have to be realistic about what's affordable.'Cable said the new coalition Conservative-Liberal Government had not yet decided whether or how to implement the new low-carbon vehicle subsidies promised under Labour, which had set aside £250m in initial funding.'It is still actively under consideration,' said Cable.

Infiniti, Red Bull considering performance cars - Ghosn

Infiniti and Red Bull could go into business together developing go-faster performance cars, Nissan CEO Carlos Ghosn has confirmed to CAR. The new August 2011 issue of CAR Magazine has a four-page interview with Ghosn (click here for a free digital preview) and we asked him if we will see a Red Bull-fettled Infiniti sports car. 'Why not?,' he replied. 'I don’t think we can bank on it today, but when Nissan people and Red Bull people come together and ask what can we do better, what can we do more of, if something like this makes sense, then why not?