GM’s New Venture and 4 Auto Stocks Drive Forward
Ford (NYSE:F) claims that its new 2013 C-Max Energi is the most fuel-efficient plug-in hybrid sold in yet another salvo against hybrid leader Toyota. According to Ford, the C-Max Energi was certified by the U.S. Environmental Protection Agency as getting 108 miles per gallon in city driving and a combined city/highway EPA rating of the equivalent of 100 m.p.g.
General Motors Company (NYSE:GM) along with Peugeot (PEUGY) has begun to consider creating a joint venture equally owned by both companies, sources inform La Tribune. This joint venture would include GM’s Opel and the Peugeot’s automotive division, and a decision should be made by the end of the year.
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Toyota Motor Corporation (NYSE:TM): According to Bloomberg, Toyota, who recalled 7.4 million cars during the week due to a problem possibly causing fires, first learned of the smoking window switches four years ago.
Honda Motor Co., Ltd. (NYSE:HMC): The National Highway Traffic Safety Administration intends to open new investigations into Honda (NYSE:HMC) Pilot SUVs regarding issues with brakes and Hyundai Santa Fe SUVs for steering column issues, according to The Detroit News.
Tesla Motors, Inc. (NASDAQ:TSLA): The California Energy Commission (NYSE:CEC) awarded electric vehicle maker Tesla Motors $10 million for the expansion of is Fremont, CA, plant for the accommodation of production for the Model X SUV. Tesla employs nearly 3,000 people, and it intends to add over 500 jobs to build the Model X. Production should begin during 2014, and Tesla has begun to invest $50 million to prepare for Model X production. Tesla revealed a prototype of its Model X, complete with its “falcon-wing” doors, in February.