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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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EIB to Contribute Up to €300M in Financing to Valeo for €645M Fuel Consumption and Emissions Reduction Projects

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The European Investment Bank (EIB) will grant financing of up to €300 million (US$426 million) to Valeo for its current research projects aiming to reduce the fuel consumption and CO 2 emissions of cars and improve active safety. Leroy Somer – the electric motor. management of the vehicle. Johnson Controls-Saft – the battery system.

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Chinas Minister of Science and Technology Forecasts Annual Domestic EV Production Capacity to Reach 1M by 2020

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China Minister of Science and Technology Wan Gang said that the country’s annual production capacity for electric motor vehicles will reach 1 million units by 2020. The project aimed to replace public transport vehicles with electric vehicles to support the development of electric vehicle industry, Wan said. billion yuan (US$1.28

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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

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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. Earlier post.)

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European Automotive Industry Outlines RD Priorities for EU Green Car Initiative

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CLEPA (the European umbrella membership organization representing the interests of the global automotive supply industry) and EUCAR (the European Council for Automotive R&D from the major European passenger car and commercial vehicle manufacturers) jointly prepared the document. These loans usually cover 50% of the total investment.

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SAIC and GM Form New Investment JV for Asia-Based Expansion and New Production and Sales JV for Global Small Cars and Mini-Commercial Vehicles in India

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Shanghai Automotive Industry Corporation Group (SAIC) and General Motors Company are expanding their cooperation in Asia with the formation of a new 50-50 joint venture investment company, General Motors SAIC Investment Limited. Tags: China India Vehicle Manufacturers. Source: GM. Click to enlarge.

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Westport Acquires OMVL of Italy and 100% of Juniper Engines for 19M; Launching a Light-Duty Automotive Strategy for Alternative Fuel Engines

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The integration of OMVL will complete Juniper’s light-duty strategy to enter the mobile industrial, non-mobile industrial, and automotive segments. Those engines were based on the Hyundai Motor Company’s 2.0-liter liter industrial engine platforms, and OMVL’s LPG multipoint injection technology. liter and 2.4-liter