Ford Motor Co. (NYSE:F): According to a person familiar with the discussions, Ford Motor Co.’s board is discussing how to replace Chief Executive Officer Alan Mulally at their monthly meeting today. The board is preparing to promote Mark Fields to Chief Operating Officer from President of the Americas as part of a plan to have him eventually succeed Mulally. It remains unclear as to when the directors will resolve this succession question.
General Motors Company (NYSE:GM): According to the Detroit News, General Motors Company’s Chevrolet brand is planning to introduce thirteen all-new or updated models in 2013. This will include the all-new 2014 Silverado pickup, Silverado HD pickup, Tahoe and Suburban SUVs, the 2014 Impala, the Spark battery-electric vehicle and the 2013 Cruze diesel.
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Toyota Motor Corporation (NYSE:TM): According to Financial Times, documents published on the website of the National Highway Traffic Safety Administration show that Toyota Motor Corporation first became aware of an issue in 2008 with their car doors that has now prompted a recall of 7.4 million vehicles
Honda Motor Co., Ltd. (NYSE:HMC): Amid surging California gasoline prices, Honda Motor Co.,Ltd., the only automaker selling compressed natural gas cars to U.S. drivers, will offer a $3,000 debit card for the purchase fuel to buyers of their CNG-powered Civic to expand the sales of this vehicle. The promotion for Honda’s Civic Natural Gas is being done with Clean Energy Fuels, the largest owner of U.S. natural gas stations. The fuel debit card can only be used at stations operated by Clean Energy, 23% owned by billionaire T. Boone Pickens.
Tesla Motors, Inc. (NASDAQ:TSLA): Tesla Motors Inc., the maker of electric cars led by Elon Musk, received a $10 million grant from California to purchase assembly equipment and to add 500 workers who will build a rechargeable sport-utility vehicle in the state. According to Alison Roberts, a spokeswoman for the agency, the California Energy Commission awarded the funds to reimburse Tesla for machinery that was purchased to equip their Fremont, California, factory that produces the battery-powered Model X crossover. Tesla is providing $50.2 million for the project and adding the jobs to qualify for the grant that is funded by vehicle registration fees.
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