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GM back on Wall Street

Green Car Congress

Shares in General Motors begin NYSE trading under the ticker symbol “GM” on Thursday, after the automaker raised an estimated $20.1 Reuters noted that the IPO values GM at about $63 billion. Including an option that would allow underwriters to sell more shares, GM looks set to raise $23.1 Tags: Brief.

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The $10,000 BYD Seagull EV is scaring the U.S. auto industry

Teslarati

market, the company’s recent release of a city EV with a price tag under $10,000 has some worried for when it and other low-cost companies do. BYD launched its Seagull, a small hatchback EV with a price tag starting at 69,800 yuan (~$9,773), at the Shanghai Auto Show last year. auto market anytime soon , some U.S.

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GM to Sell Saab to Spyker

Green Car Congress

Other terms and conditions specific to the sale will be disclosed “in due time”, GM said. The Swedish government is at present reviewing the transaction and the related request for guarantees of a Saab Automobile loan that has been requested from the European Investment Bank. —Nick Reilly, president, GM Europe.

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GM to Keep Opel

Green Car Congress

Given an improving business environment for GM over the past few months, and the importance of Opel/Vauxhall to GM’s global strategy, the GM Board of Directors has decided to retain Opel and will initiate a restructuring of its European operations in earnest. Tags: Brief. Fritz Henderson, president and CEO.

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GM publishes “Blue Paper” on sustainable urban mobility; integrating input from Sustainable Urban Mobility events in Shanghai

Green Car Congress

The convergence of a wide range of new technologies is leading to an unprecedented shift in what GM calls “the genetic makeup” of motor vehicles. GM has published a “blue paper” introducing its vision of sustainable urban mobility. —Kevin Wale, President and Managing Director of the GM China Group.

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Federal Bankruptcy Court Approves GM Asset Sale to New GM

Green Car Congress

The approval marks a necessary step toward the emergence of GM from bankruptcy; the US Treasury has said it would halt funding to GM if the asset sale was not concluded by 10 July. will change its name to General Motors Company and continue to operate under GM’s historic corporate and sub brands. The old GM: 10%.

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GM China and FAW Establish Light Commercial Vehicle Joint Venture

Green Car Congress

have formed a light commercial vehicle joint venture: FAW-GM Light Duty Commercial Vehicle Co. The new 50-50 joint venture between GM China and FAW is based in Changchun, Jilin. Existing and future products will be branded FAW in China, while the joint venture leaves room for the creation of GM derivatives.

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