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GM officially bankrupt
Mon, 01 Jun 2009GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).
Hyundai ix35 Hydrogen FCEV for £300 a month and free fuel – but only in the U.S.
Fri, 22 Nov 2013Hyundai Tucson Hydrogen FCEV (pictured) for £300 a month and free fuel – but only in the U.S. It’s very early days for cars powered by hydrogen fuel cells, not least because there’s very little in the way of a refuelling infrastructure in place. But car makers are starting to push FCEVs in a bigger way as production costs fall and performance increases, and Hyundai are at the forefront of this move with the hydrogen-powered ix35 and its US equivalent the Hyundai Tucson.
General Motors to keep green car technology in house
Wed, 12 Aug 2009For the first time in its 100-year history, General Motors plans to design, develop and manufacture electric motors for its growing array of gasoline-electric hybrids and electric vehicles. The electric motors used in GM's current lineup of hybrids are made to GM specifications by outside vendors. GM wants to bring the design and manufacturing in-house to save money and to apply its own technology to boost performance, lower weight and reduce power consumption, said Larry Nitz, GM's chief hybrid powertrain engineer.