German chipmaker Infineon Technologies is considering the idea of an electric car that's steered with a joystick, which could help car companies slash costs as they replace expensive mechanical parts with cheaper electronic ones.
Will the Chevy Volt -- General Motor's new plug-in hybrid unveiled today -- be a game changer, as CEO Daniel Akerson hopes? We'll soon find out as the car is scheduled to begin shipping to dealers next month.
Panasonic is recharging electric-car company Tesla Motors with $30 million. The electronics manufacturer, which provides batteries for Tesla's cars, will now own 2% of its customer. The deal also puts Tesla back in the battery business.
Profit tumbled 99% at BYD, a Chinese auto company that makes electric cars. Warren Buffett's Berkshire Hathaway holds a 10% stake in the company.
Mindful of the ecological toll that gasoline and diesel engines exact on the environment, the Chinese government is pressing forward with plans to build 1 million electric vehicles a year by 2020. China's government plans to spend 100 billion yuan ($15 billion) in the next 10 years to subsidize the effort, which includes building plants and infrastructure to accommodate green vehicles.
Tesla Motors has signed a $60 million contract with Toyota Motor to develop an all-electric version of the popular RAV4 compact sports-utility vehicle, Tesla said Wednesday.
General Motors is giving some 600,000 employees, retirees and dealers the chance to purchase stock in the resurgent company as the auto giant moves forward with its initial public offering, slated for next month.
The luxury electric-car maker, which just got a $465 million government loan, has filed to go public. And its IPO filing is eyebrow-raising. It reveals, for instance, that Chairman and CEO Elon Musk "does not devote his full time and attention to Tesla."
