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Chrysler's main creditors reach deal with U.S.; others hold out
Tue, 28 Apr 2009The 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.
Toyota sets electric car record at Nurburgring with TMG EV P001
Thu, 01 Sep 2011Toyota TMG EV P001 - new EV lap record at the Nurburgring Every car maker wants a lap record at the Nurburgring, and Toyota is no different. What is different this time is that Toyota has taken a non-production car with an electric motor – the Toyota TMG EV P001 – to crack the record for an EV. Nurburgring regular Jochen Krumbach took the Toyota Motorsport EV P001 round the 20.8km Nürburgring Nordschleife circuit in a blistering 7m 47.794s, annihilating the previous record of 9m 1.388s.
AutoWeek Design Forum: Johnson Controls designer styles the future
Thu, 13 Jan 2011What is inspiration? Johnson Controls design vice president Michael Warsaw pondered that and other style themes on Thursday morning at the AutoWeek Design Forum in Detroit. "It's about having a vision--it's about having that vision be your guidepost," he said.
