Toyota plans to to add 850 workers when they institute a second shift at their San Antonio, Texas pickup factory in February, according to company manufacturing spokesman, Mike Goss.
Volkswagen AG announced today that it has taken a 49.9 percent stake in Porsche AG.
“The next important step on the way towards the integrated automotive group with Porsche has therefore been completed, as announced, before the end of the year,” Volkswagen said in a statement.
Ed Whitacre, chairman and acting CEO for General Motors, is avoiding making a public statement regarding the recently tumultuous nature of the company’s leadership. Whitacre was scheduled by GM to speak to the press tomorrow morning regarding the board’s seeking and receiving of, CEO Fritz Henderson’s resignation last week.
Transportation for America, a nonprofit safety organization says that Florida ranks first (or last, depending on your point of view) in pedestrian-vehicle collisions, registering a total of 490 deaths last year from such accidents.
Zhejiang Geely Holding Group is seeking $1billion in loans from Chinese banks to finance its bid for Ford-owned Swedish car maker Volvo. Sources say that three major banks; Bank of China, China Construction Bank, and Export-Import Bank of China have agreed to extend loans to the company.
In the latest attempt to address deadly auto-rollovers, the National Highway Traffic Safety Administration proposed that larger and stronger side air bags be required to prevent ejections during rollover crashes. The measure, according to the NHTSA, could reduce rollover crash deaths by more than 10,000 instances per year.
London: Team principal of Mercedes Formula One team Ross Brawn has confirmed that seven-time F1 world champion Michael Schumacher will not come out of retirement to drive for them.
After world champion Jenson Button decided to sign for McLaren last week, speculations had been mounting about Schumacher's comeback to spearhead the official return of Mercedes for the first time since 1955.
On the even of his keynote speech at the 2009 LA Auto Show and after just 8 months on the job, General Motors’ Fritz Henderson has resigned his position as CEO of the Detroit automaker.
This year’s Detroit Auto Show will see its lineup grow by 4 manufacturers over lats year’s show, says the show’s senior cochair Doug Fox. So far 54 companies have committed, and Fox says that he wouldn’t be surprised if more signed up still.
According to AutoCar, seven time World Driving Champion Michael Schumacher will return to Formula One competition in 2010 driving for Mercedes GP. So says Eddie Jordan, former F1 team owner, who gave Schumacher his first Formula One drive back in 1991. Michael went on to race with Benneton before moving to Ferrari, where he teamed with Ross Brawn to win multiple world titles.