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General Electric to Energize Electric Car Market

Gary Sattler — Thu, 11 Nov 2010 17:00:00 EST

Filed under: Products and Services, General Electric (GE), General Motors (GM), Next Big Thing, Oil, Initial Public Offerings, Stocks to Buy, Nissan Motors (NSANY)

A major business decision recently announced by General Electric Company (GE) involves the purchase of 25,000 electric vehicles from General Motors and others.

Bloomberg/BusinessWeek reports that this is the largest order of ever of its kind. The new electric vehicles shall serve as part of GE's commercial fleet, and some of the units shall be made available for lease by consumers. According to the BusinessWeek report, 11,000 of the new units are being ordered directly from General Motors.

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General Electric to Energize Electric Car Market originally appeared on BloggingStocks on Thu, 11 Nov 2010 17:00:00 EST. Please see our terms for use of feeds.

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GM won't use Michigan plant to manufacture Volt electric vehicle engines

Brian White — Thu, 29 Jan 2009 14:45:00 EST

Filed under: Bad News, Products and Services, General Motors (GM)

General Motors Corp. (NYSE: GM) has consistently said the upcoming Chevy Volt all-electric vehicle was part of a gateway to the future for the company. But it did not anticipate having to borrow tens of billions from the U.S. government in the interim before it could get that product out the door at a reasonable price with decent marketing. Add to that the complete slowdown of customers buy new cars and trucks and GM is a hurtin'.

So much so that the automaker has shut down plans to make a new generation of four-cylinder engines at a plant in Flint, Mich., and instead will import what it needs to build the first generation of the Chevy Volt instead. In addition, the plant being shut down was to build smaller engines for the Chevy Cruze -- another small car GM is planning to build.

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GM won't use Michigan plant to manufacture Volt electric vehicle engines originally appeared on BloggingStocks on Thu, 29 Jan 2009 14:45:00 EST. Please see our terms for use of feeds.

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Newspaper wrap-up: Fed, Office of the Comptroller scrutinize Fannie, Freddie books

Laurie Pasternack — Tue, 22 Jul 2008 08:28:00 EST

Filed under: Newspapers, Magazines, Amazon.com (AMZN), General Motors (GM), Federal Natl Mtge (FNM), Consolidated Edison (ED), Duke Energy (DUK), Blackstone Group L.P (BX)

MAJOR PAPERS:

The books of Fannie Mae -- Federal National Mortgage Association (NYSE: FNM) -- and Freddie Mac -- Federal Home Loan Mortgage Corporation (NYSE: FRE) -- are being examined by the Federal Reserve and the Office of the Comptroller of the Currency to review their financial condition, according to the Wall Street Journal.
The Wall Street Journal also reported that the Chevy Volt, an electric car from General Motors Corporation (NYSE: GM), is slated to roll out in two years and it received a major boost from 36 utilities that operate in 40 states who agreed to work together to make the plug-in vehicle possible. Among the utilities are American Electric Power Company Inc (NYSE: AEP), Consolidated Edison Inc (NYSE: ED), Duke Energy Corporation (NYSE: DUK), and Edison International (NYSE: EIX).
Struggling mortgage lender Paragon is reportedly in talks with The Blackstone Group LP (NYSE: BX) about a potential takeover by Blackstone, the Financial Times reported.

OTHER PAPERS:

The New York Times reported that TiVo Inc (NASDAQ: TIVO) will today introduce a "product purchase" feature in partnership with Amazon.com Inc (NASDAQ: AMZN). Under TiVo's plan, the television remote control will be turned into a tool for buying products that are advertised and promoted on talk shows and commercials.

Newspaper wrap-up: Fed, Office of the Comptroller scrutinize Fannie, Freddie books originally appeared on BloggingStocks on Tue, 22 Jul 2008 08:28:00 EST. Please see our terms for use of feeds.

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Is the Chevy Volt 'a huge mistake' for GM?

Michael Rainey — Tue, 24 Jun 2008 14:55:00 EST

Filed under: Products and Services, General Motors (GM), Toyota Motor Corp. (TM)

The bad news just keeps coming for General Motors (NYSE: GM). The beleaguered auto giant has announced that it will offer 0% financing to help get rid of its growing inventory of inefficient trucks and SUVs, even as it is forced to raise prices due to higher raw material costs. Its once proud Hummer brand is now an albatross that the company is considering unloading. And its market cap of $7.5 billion is lower than not only Toyota (NYSE: TM) but also ailing Ford (NYSE: F) -- GM has lost so much value that a writer at CNNMoney is making the argument that it should be removed from the Dow Jones Industrial Average.

One bright spot for GM has been the Chevy Volt, a hybrid car that has generated considerable excitement in the automotive press. The design of the car is groundbreaking, with a large battery that is recharged by a small gas engine. This is an advance over the popular Toyota Prius and other hybrids, which are essentially gasoline-powered vehicles that use batteries to improve mileage and emissions. With the Volt, scheduled for production for the 2010 model year, GM could claim a real technological advance for the first time in years, and maybe regain some market share.

But there's only one problem: it is highly unlikely that GM will be able to deliver the Volt as promised, according to an Atlantic piece about the car. The article is filled with fascinating details about the ongoing development of the car, especially the frantic pace and rapid innovation required to get the car into production shape. But an unnamed executive told the magazine that this is exactly the problem. The development process has been too compressed, which will force GM to either fail to meet its target date or, worse, to deliver an inferior product. As the executive put it, "They're making a huge mistake."

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Is the Chevy Volt 'a huge mistake' for GM? originally appeared on BloggingStocks on Tue, 24 Jun 2008 14:55:00 EST. Please see our terms for use of feeds.

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As GM faces $4 gas, it's bye bye Hummer

Jonathan Berr — Tue, 03 Jun 2008 10:20:00 EST

Filed under: Products and Services, Management, General Motors (GM), Employees

General Motors Corp. (NYSE: GM) is finally facing the reality of $4 gas. The automaker today announced is plans to close four plants and introduce smaller, more fuel-efficient cars. More importantly, the company is considering selling its gas-guzzling Hummer brand.

Bloomberg News quotes GM Chief Executive Rick Wagoner as saying that the plant closings will save $1 billion and cut North American truck capacity by 700,000 vehicles. About 10,000 jobs may be cut as the result of the closures. GM's board also approved the production of a new small Chevrolet car in a plant in Ohio in 2010 and the Chevy Volt electric vehicle in Detroit, according to the Associated Press.

Wagoner's turnaround plan for GM, which was started in 2005, has hit a brick wall. Sales of pick-ups and SUVs are plunging as gas prices are rising. GM has already shifted much of its health care costs to the UAW but more needs to be done to help the automaker remain competitive.

Continue reading As GM faces $4 gas, it's bye bye Hummer

As GM faces $4 gas, it's bye bye Hummer originally appeared on BloggingStocks on Tue, 03 Jun 2008 10:20:00 EST. Please see our terms for use of feeds.

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GM's Lutz hails Volt electric car as the company's next, best hope

Brian White — Thu, 17 Jan 2008 12:04:00 EST

Filed under: Products and Services, General Motors (GM)

General Motors Corp. (NYSE: GM), after seeing sales plummet for larger cars and SUVs over the past 18 months because of higher energy prices, is now doing a major about-face. It's no secret that a large part of GM's future strategy is tied up in alternative fuels and electric vehicles for the consumer market. Translation: inflation and energy prices are changing consumer gas price attitudes.

Robert Lutz, GM's product design expert extraordinaire (oh, and Vice Chairman), is placing a large bet on the Chevrolet Volt, a 100% electric vehicle that GM hopes will capture the imaginations -- and wallets -- of energy-conscious consumers. Lutz even calls the Volt GM's "moon shot" in a reference to a once-in-a-lifetime NASA goal to place a man on the moon in the 1960s. GM has a once-in-a-product-cycle chance to get a mass-produced, well-liked electric vehicle into dealer showrooms before any other global auto manufacturer.

Lutz, who speaks the best geek-speak there is concerning vehicle dynamics and drag coefficients, seems certain that GM can outfox Toyota Motor Corp. (NYSE: TM) by getting a popular, 100% electric vehicle into mass production first. Toyota's existing Prius is a hybrid (gas and electric), and the race is on to get a completely electric car onto the showroom floor. Since there is no gas engine, which provides power for air conditioners and many other components, all systems from entertainment to windshield wipers had to be created from the ground up for the new Volt. From reading this Lutz interview, the Volt has the potential to place GM on top of the auto world again. That is, if done right and before the competition beats it to the electric vehicle game.

GM's Lutz hails Volt electric car as the company's next, best hope originally appeared on BloggingStocks on Thu, 17 Jan 2008 12:04:00 EST. Please see our terms for use of feeds.

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General Motors racing Toyota to 100% electric vehicle

Brian White — Mon, 19 Nov 2007 17:15:00 EST

Filed under: Competitive Strategy, General Motors (GM), Toyota Motor Corp. (TM)

General Motors (NYSE: GM) is setting itself up for what could be the largest unveiling of an electric vehicle ever with its Volt line of electrically-powered vehicles. As gasoline reaches and surpasses the $3/gallon mark nationwide, customers have to wonder why no car manufacturer has fulfilled the need for an electric car; and one that does not have limitations rendering it non-competitive to a standard gas-powered passenger car, like these Zapcars pictured here.

GM executives have recently said that the Volt is on track for sale for late 2010, and it will be a rechargeable vehicle that is 100% electric, not a hybrid. It's not only nice looking, it would eliminate gas as a variable in that daily commute. To some, that means a savings of a few hundred dollars (or more) per month. GM, however, is not going at this effort alone. Toyota is in the race as well, and there will soon be a "showdown" with GM, according to a senior GM executive last week.

The Chevy Volt should be launched in November 2010, according to GM CEO Richard Wagoner and head of global product development Robert Lutz. That's three years from now, and it's still considered an "aggressive" posture by GM's global design and manufacturing teams. Will Toyota be able to beat that deadline and deliver a solid, 100% electric offering within the next three years and once again show up its main global rival? Lutz said that by next April, one company will be able to show a prototype on the street, and the other will take a credibility hit (stating that batteries won't be able to push cars, even in three years). We'll see who is correct in about five months or so.

General Motors racing Toyota to 100% electric vehicle originally appeared on BloggingStocks on Mon, 19 Nov 2007 17:15:00 EST. Please see our terms for use of feeds.

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GM to shock market with 60,000 Volts

Tom Barlow — Wed, 22 Aug 2007 12:05:00 EST

Filed under: Forecasts, Products and Services, Competitive Strategy, General Motors (GM)

Bloomberg.com reported today that unnamed sources privy to Chevrolet's plans for their version of the hybrid, the Volt, say that General Motors (NYSE: GM) hopes to build as many as 60,000 of the vehicle in the first year of production, 2010-11.

In its current iteration, the car would be capable of traveling up to 40 miles on its lithium-ion battery alone, or 640 miles between gasoline fillups. A (much more expensive) fuel cell version is also in the works for the Chinese market.

Industry experts are skeptical of the company's ability to reach such lofty goals. The process will be expensive -- GM expects to spend a least half a billion dollars in bringing the vehicle to market. The plan compresses GM's normal development cycle, and will test its corporate flexibility. The projected quantities also represent a real gamble on the car's popularity.

Chevy is also depending on the timely development of a new type of battery to power the E-Flex system. This system would allow the car to cruise at highway speed on battery alone, and could be recharged via house current, overcoming the limitations of current hybrids from Toyota Motor Corp. (NYSE: TM) and Honda Motor Ltd. (NYSE: HMC).

GM to shock market with 60,000 Volts originally appeared on BloggingStocks on Wed, 22 Aug 2007 12:05:00 EST. Please see our terms for use of feeds.

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