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Infiniti EV put on hold to concentrate on volume sales

An Infiniti EV based on the Nissan LEAF (previewed by the LE Concept above) have been put on hold Nissan’s luxury arm, Infiniti, is on a global push to try and make inroads in to the dominance of Lexus in the luxury Japanese car arena, and has ambitious plans to be selling 500,000 cars a year by 2017. But Infiniti sold only a third of that total in 2012, so any chance of hitting the lofty target of 500k cars in the next five years means they must concentrate on volume cars, not niche cars like a Nissan LEAF based EV. That means the LEAF-based Infiniti LE EV Concept we saw at the New York Auto Show in 2012 will stay as a concept for the foreseeable future as Infiniti boss, Johan de Nysschen, seeks volume cars that will push the brand forward and bring proper sales numbers.

Chrysler says it needs another $2 billion in aid

In submitting its viability plan to the federal government on Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs. Chrysler said it will reduce fixed costs by an additional $700 million, cut 100,000 more units of production capacity, discontinue three more model lines and sell $300 million more in assets.

Former General Motors CEO nets multimillion-dollar retirement package

Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. The deal is significantly lower than what he could have received; it would have been $23 million at the end of last year, Reuters reports.