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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.
Ford adapts Sync for fast German drivers
Wed, 31 Aug 2011Ford Motor Co. has adapted its Sync in-car connectivity system to cope with high speeds on German autobahns. Ford launched Sync in North America in 2007 and will offer the system on its models in Europe starting next year.
Peugeot Exalt to be reinvented for Paris show
Thu, 10 Jul 2014Peugeot design director Gilles Vidal has confirmed to Car Design News that the Exalt concept, which debuted at the Beijing auto show earlier this year will be shown at October's Paris motor show. However, while the car shown in China featured color and trim materials specific to the region, the Exalt that will grace the show stand in France will be different. "The car was presented at the Beijing auto show, and all the materials used in this car are sourced in China or Asia," says Vidal.