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GM Files Voluntary Chapter 11; Agreements with US Treasury and Canada; New GM Expected in 60-90 Days

Green Car Congress

Pending approvals, the New GM is expected to launch in about 60 to 90 days as a separate and independent company from the current GM. Columbus, Ohio Close: 31 Dec 2009. Warrants granted to the New VEBA to acquire newly issued shares in the New GM equal to 2.5% General Motors Corp. Closed: May 2009*. Boston, Mass.

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President Obama Announces 48 Projects to Receive $2.4B in Grants for Next-Generation of Batteries and Electric Vehicles; To be Combined with $2.4B in Industry Cost-Share

Green Car Congress

billion in grants to US-based manufacturers to produce batteries and their components and to expand battery recycling capacity; $500 million in grants to US-based manufacturers to produce electric drive components for vehicles, including electric motors, power electronics, and other drive train components; and. Ford Motor Company.

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