GM Builds Third Base in China and 4 Auto Stocks Drive Forward
Ford Motor Co. (NYSE:F) Chairman Bill Ford stated in Shanghai that China should try to protect against traffic congestion with increased city crowding. In the next twenty years, about 350 million people are expected move into Chinese cities, which threatens to worsen both air quality and traffic, according to Bloomberg. Also, Olam International (OLMIY) stated that it is not threatened by insolvency after Muddy Waters LLC compared it to Enron. The company has the ability to meet its debt obligations of $1.2 billion within the next 12 months, along with its planned spending, Olam stated, according to Bloomberg.
General Motors Company (NYSE:GM): SAIC-GM-Wuling intends to constuct a third manufacturing base to be located in Chongqing Municipality as an attempt to keep up with the rising demand for its vehicles. The joint venture between GM China, SAIC and Wuling Motors should commence the construction of its new facility early in 2013, considering the pending relevant government approvals. The RMB 6.6 billion first phase should open in 2015, and the facility should have an annual production capacity of 400,000 vehicles and engines. Also, it will adopt GM’s global manufacturing processes and standards. SGMW intends to discuss and decide which models will be built closer to the start of production.
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Toyota Motor Corporation (NYSE:TM) researchers have begun to steadily progress in the development of a battery that using magnesium instead of lithium, possibly someday offering a cheaper and more energy-dense alternative.
Honda Motor Co., Ltd. (NYSE:HMC) innovative LaneWatch™ blind spot display was introduced in the company’s all-new 2013 Accord, and now, it has been named a finalist for the AOL Autos 2012 Technology of the Year Award, which is to be givent to one Grand Prize winner in January at the 2013 Consumer Electronics Show in Las Vegas.
Tesla Motors, Inc. (NASDAQ:TSLA):WealthTV is a premiere luxury lifestyle and entertainment network, and it recently named Telsa’s Model S as its prestigious Car of the Year Award, which will be awarded during the Los Angeles Auto Show.
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