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Ford cuts CEO's compensation 37%
Wed, 25 Mar 2009Ford Motor Co. CEO Alan Mulally earned $13.57 million in total compensation in 2008, a 37 percent decline, as the automaker avoided seeking a federal bailout while posting a record loss. Mulally will take an additional 30 percent cut in salary this year and next as he battles a global financial crisis and the worst U.S.
Volvo 13-liter liquefied-natural-gas engine announced for North America
Mon, 21 May 2012It comes as no surprise that, with rising fuel costs, companies are continuing their efforts to increase efficiency. Volvo Trucks, for its part, plans to launch a 13-liter liquefied-natural-gas engine for North America in 2014 and is set to develop a new form natural-gas fuel called DME, or dimethyl ether. Volvo looks to add the liquefied-natural-gas option to complement its compressed-natural-gas (CNG) offerings.
Tesla Model S first EV to earn high praise from Consumer Reports
Thu, 09 May 2013Tesla Motors Inc.'s all-electric Model S sports car received the highest score in Consumer Reports' ratings -- a 99 out of 100 -- along with widespread plaudits from the magazine's automotive testing staff. The magazine said the $89,650 EV it tested "performed better, or just as well overall, as any other vehicle -- of any kind -- ever tested by Consumer Reports." The last vehicle to achieve a score of 99 in the magazine's testing was the Lexus LS 460L, which was tested in 2007. The Model S, which went on sale in 2012, also marks the first time any electric vehicle has earned a score that high, the magazine said Thursday.