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Ahead of an official announcement expected next Tuesday and under condition of anonymity, administration officials spoke of a 30% improvement mandate starting in 2011 and reaching a deadline in 2016. Full story at MSNBC
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$17.4B total; $13.4B today for GM ($9.4B) and Chrysler ($4B), $4B balance in February. The funds are coming out of the $700B financial stabilization fund, not as I understand the $25B Advanced Vehicle fund. This is good news for the Volt and for the future of new vehicle manufacturers like Tesla, Fisker...
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The big three, or perhaps the big two and Chrysler are begging congress for cash, $34B at the last count. Here's the crazy; the Fisker Karma, an $87,900 2+2 sports sedan due to hit the streets at the end of 2009 is sold out well into 2010... probably 2011 by the time you read this? Now, here's...
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Tesla Motors isn't the only company looking for funding right now. As well as Tesla, XP Motors and others descended on Washington yesterday to here what what was on offer in terms of funded to them as part of the $25B fund being made available. Detroit's Big Three automakers also have applied...