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GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.

Hyundai to expand U.S. engine production

Hyundai Motor Co. will spend $173 million to expand its engine plant in Alabama to build more four-cylinder engines. The expansion work is set to be complete this fall and production is set to begin in March 2012.

Tesla Model X SUV will ONLY be available with four wheel drive

The Tesla Model X (pictured) will only be available with 4WD The Tesla Model X does promise to be a very appealing SUV, even if its main USP for business users – zero BIK – will have been scrapped by the time it arrives in the UK. When it does arrive, prices are expected to be similar to the Model S Saloon and, just as with the Model S, Tesla are planning a variety of battery capacity options and, we thought, an entry-level rear wheel drive model. But Green Car Reports, in response to a reader enquiry, has got confirmation from Tesla that they have now decided that all Model Xs will come only with the 4WD powertrain fitted.