3 Auto Stocks Seeing Action: Toyota Fights for Hydrogen, Another Bump for Tesla, GM’s CEO May Step Down
Toyota Motor Corp. (NYSE:TM): Toyota is fighting claims that hydrogen fuel cell vehicles are a lost cause, with criticisms coming in heavy-handed from plug-in car enthusiasts. Citing the laws of thermodynamics, Toyota maintains that on a well-to-wheel analysis, hydrogen stacks up quite favorably compared to internal combustion or electric alternatives, fighting the argument that hydrogen is a “net energy loser.”
Tesla Motors Inc. (NASDAQ:TSLA): Tesla is reporting that an incident at its Fremont factory on Wednesday will not have material effects on production. The incident occurred after some heated metal burned three workers at the plant: One employee was seriously injured and two sustained minor injuries after a low-pressure aluminum press failed. The Fremont Fire Department confirmed that there was no fire or explosion in the plant, and that the incident was being considered an industrial accident. CEO Elon Musk visited the workers personally to “make sure they’re OK and getting the best possible care.”
General Motors Co. (NYSE:GM): Automotive News is reporting that GM Chief Executive Dan Akerson may step down next year, though no formal search for a replacement has been initiated. Akerson’s exit plans were put up for speculation in April, when GM disclosed that his compensation structure had been changed.
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