A123 Claimed by Wanxiang Group and 4 Auto Stocks Drive Forward
Ford Motor Co. (NYSE:F) announced a corrective measure to overcome th potential engine overheating that could result in engine fires in SE and SEL models of the 2013 Ford Escape and Ford Fusion models equipped with 1.6-liter engines. To alleviate this problem, Ford will make software updates for the cooling system of the affected mocels. Presently, the company is working to deliver the software and repair procedure to their dealers and they will begin notifying customers so that they can schedule service appointments with dealers. Ford remains absolutely committed to continuously improving and providing the highest-quality vehicles to their customers.
General Motors Company’s (NYSE:GM) Opel division will no longer make cars at their plant in Bochum, Germany in 2016 when the current version of the Zafira minivan is replaced.
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Toyota Motor Corporation (NYSE:TM): According to Reuters, who cited Japan’s Asahi newspaper, Toyota Motor Corporation may delay the launch of a new production line at their Tianjin, China plant due to a decline in sales there. The report said that the recovery of Toyota’s sales in China will determine a new schedule for the production line.
Honda Motor Co., Ltd. (NYSE:HMC) has announced that they will be building two additional variants of their popular Fit/Jazz city car - a sedan and a crossover. An inside source told autonews.com that the three variants of the Fit will be built at Honda’s new plant which is currently under construction in Mexico.
A123 Systems, Inc. (NASDAQ:AONE): Wanxiang Group, a Chinese company, will buy most of A123′s Systems, Inc.’s automotive, grid and commercial business assets, including their United States facilities in Michigan, Massachusetts and Missouri. Navitas Systems will buy A123′s government business, including all U.S. military contracts, for $2.25 million.
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