A123 ANNOUNCES Agreement with BAE and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F) has announced a voluntary safety recall for 2012 Ford Escapes equipped with a 1.6-liter engine built before July 11. Ford predicts that there have been nearly 11,500 of the vehicles built and distributed to be sold in North America, most in the U.S. The recall is voluntary, and the recall is to replace a fuel line in the engine compartment, which may break and leak fuel, possibly causing a fire beneath the hood. So far, no injuries have been reported, and the issue does not have an effect on other 2013 Ford Escapes. There is also no problem when the engine is not running, and as a safety precaution, those who already own the vehicle have been advised to quit driving their cars and contact their dealers as soon as possible. Dealers will offer a loaner vehicle to the customers as well as transporting their Escape to the dealership for the needed repairs. The shares closed down 0.03 (0.32%) recently at $9.35.
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General Motors Company (NYSE:GM): Michael Lohscheller will be the newest Management Board member in charge of Finance and Opel/Vauxhall CFO and Vice President of Finance beginning September 1. Currently, Lohshceller is Executive Vice President and CFO for Volkswagen Group of America (VLKAY). He will replace Mark N. James. Also, Michael Ableson will take a role as a Management Board member as head of Engineering beginning September 1. The shares closed up $0.07 (0.35%) recently at $20.14.
Toyota Motor Corporation (NYSE:TM): The dam opposed to the electronically caused unintended acceleration in Toyatas built by the National Highway Traffic Safety Administration and Toyota, with secrecy, anger, recalls for pedal interference, and capped in the February 2011 NHTSA-NASA report springs more leaks. People have become skeptical about whether or not the company can prevent it from a toatl collapse. Safety Research & Strategies keep examining information indicating that unwanted acceleration continues to be an issue for Toyota. The Department of Transportation recently settled a Freedom of Information Act (FOIA) lawsuit with SRS, which made them agree to turn over investigatory documents, videos, and photos in relation to the involvement of the agency in the recall of Toyota and Lexus models for possible accelerator entrapment by interior trim.The shares closed up $0.27 (0.35%) recently at $76.75.
Honda Motor Co., Ltd. (NYSE:HMC) intends to construct a new product line at its plant located in Malacca, Malaysia, for a move to double the country’s automobile output, according to the Nikkei reports. the new line should present the plant’s complete annual capacity from 50,000 units to 100,000. The shares closed up $0.34 (1.07%) recently at $31.9914.
A123 Systems, Inc. (NASDAQ:AONE) has announced a new agreement with BAE Systems, who is a leading provider and developer of hybrid electric technologies, intended to expand the long-standing relationship of the companies. Under the agreement’s terms, A123 should supply lithium battery packs for the company’s prismatic cells to BAE for its HybriDrive Series propulsion system. The company’s new design is expected to be deployed on city buses, and as part of the agreement, A123 is to supply lithium ion battery packs for other BAE’s HybriDrive system versions for other commercial applications. The shares closed up $0.001 (0.10%) recently at $0.691.
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