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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

Livonia Engine, Mich. Jacksonville, Fla. Warrants granted to the New VEBA to acquire newly issued shares in the New GM equal to 2.5% Warrants granted to GM at closing to acquire newly issued shares in the New GM equal to 15% of its outstanding common equity, with various exercise prices and expirations. Close: Jul 2009.

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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. Jacksonville, FL.

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President Obama Outlines Vision and Plan for US High-Speed Passenger Rail System; $13B to Start

Green Car Congress

By late summer, the Federal Railroad Administration will begin awarding the first round of grants. Southeast Corridor (Washington, Richmond, Raleigh, Charlotte, Atlanta, Macon, Columbia, Savannah, Jacksonville). The merit-driven process will result in federal grants as soon as late summer 2009.

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