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GM Reaches Agreement with China-based Pacific Century Motors on the Sale of Nexteer Automotive

Green Car Congress

General Motors and Pacific Century Motors (PCM), an entity formed by The Tempo Group and E-Town, an affiliate of the Beijing Municipal Government, have reached an agreement for GM to sell GM Global Steering Holdings, LLC, commonly known as Nexteer, to PCM. Tags: Brief. Terms of the sale were not disclosed.

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Report Finds That Urgent Changes in Transport Financing Required to Enable More Sustainable Transportation Globally

Green Car Congress

While notable exceptions exist, the report says, the financing framework is often skewed towards supporting the motorization model: Domestic public finance is mainly used to build and maintain infrastructure to cater to increasing levels of motorized traffic.

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Survey Finds Fuel Efficiency Impacting US Consumers’ Future Auto Buying Decisions

Green Car Congress

A new survey by Capital One Auto Finance found that more than half of respondents (53%) say that their next car will be more fuel efficient than their current vehicle and 55% would be very likely or somewhat likely to give up a larger vehicle for a more fuel-efficient model when they buy their next car. Tags: Brief.

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UK EV Charging Network Expected to Survive Budget Cuts

Green Car Congress

The UK’s Plugged-in Places scheme ( earlier post ) is expected to survive the government’s upcoming spending review. Whitehall insiders told BusinessGreen.com that the government has approved the plans “in principle”, although details of funding and logistics have yet to be confirmed. Tags: Brief.

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BYD Plans Limited Introduction of e6 EV in US Next Year

Green Car Congress

Wang said the company will use proceeds from a new share issue to finance the US introduction, as well as for another production line for its lithium iron phosphate batteries in China. Wang said BYD will select a specific region in the US and target a few hundred e6s at government agencies, utilities and perhaps celebrities.

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A123Systems Raises $69 Million in New Round of Private Financing; GE Increases Ownership to More than 10%, Director of GE Global Research to Join Board

Green Car Congress

GE Energy Financial Services and GE Capital’s Equity unit provided $15 million of the amount raised by A123 in this financing. With this financing, we will begin an expansion that we expect to accelerate upon receipt of government funds. Tags: Batteries. We’ve accelerated our plans to expand our US manufacturing.

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Ford Anticipates Definitive Sales Agreement with Geely for Volvo in 1Q 2010

Green Car Congress

Ford Motor Company confirmed that all substantive commercial terms relating to the potential sale of Volvo Car Corporation have been settled between Ford and Zhejiang Geely Holding Group Company Limited. Tags: Brief. More details will be made available once the expected definitive sale agreement is signed in the first quarter of 2010.

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