article thumbnail

California Startup Aurica Motors Trying to Keep NUMMI Plant Open for Manufacturing Electric Cars, Battery Swap System

Green Car Congress

Startup electric car company Aurica Motors announced a plan to keep the NUMMI plant, which employs 4,700 people, from shutting down when Toyota leaves on 31 March. Aurica is trying to obtain Federal economic stimulus funding to convert NUMMI to electric car manufacturing, but is also open to private financing.

article thumbnail

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

Green Car Congress

GE Energy Financial Services and GE Capital’s Equity unit provided $15 million of the amount raised by A123 in this financing. In addition to the private capital, A123 is seeking funds under federal and state stimulus and other programs to ramp up its production capabilities in Michigan. Earlier post.) Earlier post.)

Financing 150
article thumbnail

Ford Starts EV Test Drives

Revenge of the Electric Car

“Ford Motor Co. 28 (Bloomberg) — Ford Motor Co. Local utility RheinEnergie AG will supply vehicle-charging stations for the test, which is being financed by the German government’s economic-stimulus package, Dudenhoeffer said. Ford is starting EV trials in Germany. 4 as the U.S. By Chris Reiter. 4 as the U.S.

Ford 173
article thumbnail

Tesla + Toyota

Revenge of the Electric Car

. “This is like Christmas in May,&# said Saki Kavouniaris, whose steakhouse and cocktail lounge on Warm Springs Boulevard had seen business slump 30 percent since the New United Motor Manufacturing Inc. plant shut down April 1. I was starting to think this place must be jinxed. There’s more. Some doubts left.

Toyota 191
article thumbnail

Grant Thornton LLP Warns of Potential Collapse of Automotive Supply Chain

Green Car Congress

The economic impact of a General Motors or Chrysler bankruptcy is being debated across the country. Other key actions for lenders to take include: Provide Affordable Financing: The interest rate on loans to finance consolidation efforts should be set at lower lending rates. Laura Marcero.

Grant 150
article thumbnail

Honda May Develop Plug-In as Obama Alters U.S. Policy (Update2) - Bloomberg.com

Tony Karrer Delicious EVdriven

Policy (Update2) Share | Email | Print | A A A By Alan Ohnsman April 27 (Bloomberg) -- Honda Motor Co. , General Motors Corp., Toyota Motor Corp. and startups Tesla Motors Inc. Tax Credits Instead, Obama backed tax credits of as much as $7,500 inthe stimulus package approved in February for buyers of plug-incars.

Obama 53
article thumbnail

Chrysler unveils new electric minivan for the US Postal Service

Tony Karrer Delicious EVdriven

However, the electric drive portion of the vehicles, including the motor, electronics and A123 System lithium ion battery pack is identical. Motor Trend Magazine has extensive coverage of all cars online including road tests, free videos, buying guides, etc. Apr 22, 2009 - Chrysler invented the minivan 25 years ago.

Minivan 46