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GM to buy back 200M shares held by US Treasury for $5.5B

Green Car Congress

General Motors today will purchase 200 million shares of GM common stock held by the US Department of the Treasury for $5.5 Government ownership of GM stock was the result of the auto industry rescue that began under President George W. Bush in 2008 and which was expanded by President Barack Obama in 2009.

GM
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Center for Automotive Research calls long-run economic risk to auto industry of mandating permanent fuel economy standards very serious; recommends periodic reviews

Green Car Congress

Based on the results of the study, CAR believes the economic risk to the auto industry connected to mandating permanent fuel economy standards in the long run is “ very serious ” The group recommends periodic review to assess the rate of technology development and cost reduction of advanced technologies leading up to 2025.

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Tesla replays DOE loan nine years early

Green Car Congress

This program was signed into law by President Bush in 2008 and then awarded under the Obama administration in the years that followed. Elon Musk, Tesla’s Chief Executive Officer and cofounder, purchased $100 million of common equity, the least secure portion of the offering.

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Polk study finds US consumers holding onto vehicles longer

Green Car Congress

Length of ownership has risen each quarter since the end of 2008 and serves as an indicator of business opportunities available to the automotive aftermarket, based on the increasing numbers of older vehicles in operation that may need service or parts, and an increasing number of vehicles on the road falling out of warranty. Data: Polk.

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Canadian Study Concludes Rebates to Hybrid Buyers Not Cost-Effective for Reducing Carbon Emissions

Green Car Congress

So for the majority, rebates are not changing behavior—they are subsidizing planned purchases. Chandra says that governments could garner greater environmental benefits by purchasing carbon offsets (currently priced between $3 and $40 per tonne on carbon markets) or investing in green jobs and technologies. Ambarish Chandra.

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EcoMotors Names Donald Runkle CEO; Power Density as the Holy Grail

Green Car Congress

EcoMotors International, a Khosla-funded startup working to commercialize a diesel opoc (opposed-piston, opposed-cylinder) engine ( earlier post ), has named auto industry veteran Donald Runkle as its new CEO. EcoMotors was founded in 2008 by Prof.

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One way or another, Fisker Automotive may soon be off the market

Green Car Congress

The purchase funds for Fisker would in theory go directly to the DOE since the government agency loaned the auto company a large sum of money before it stopped production more than a year ago. The company lost about $1 billion between 2008 and 2012, according to a Reuters article. Earlier post.)