GM to Hire 3K IT Employees and 4 Auto Stocks Drive Forward
Ford Motor Company (NYSE:F): Lincoln celebrates the new studio, Design Center, which opens Friday. The Center houses about 150 designers, craftspeople and engineers who are solely dedicated to Lincoln production and concept vehicles.
General Motors Company (NYSE:GM) intends to recruit 3,000 information tech employees from Hewlett-Packard Company to work on GM projects. HP has been one of the principal IT service suppliers for GM, which is bringing most all of its outsourced IT work in-house. GM’s Chief Information Officer Randy Mott believes that his IT workers can become more efficient and effective as in-house employees. The 3,000 workers have been running and developing IT systems for the automaker in a number of locations worldwide, and their hiring forms part of an IT remake conducted by Mott which should move the company from reliance on outsourcers for 90 percent of its IT operations to only 10 percent.
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Honda Motor Co. (NYSE:HMC): The OSU Office of Research and Honda R&D Americas, Inc. launched the new $1.3 million OSU Driving Simulation Laboratory on Thursday morning. The facility was designed to aid researchers in learning more about distractions to drivers and ways to avoid distraction on the road. The Kinnear Road laboratory includes driver simulators which provide a geniune driving experience in a real Honda car. OSU senior associate vice president for OSU’s Office of Research Jan Weisenberger said that studying behaviors of drivers in a simulated driving environment gives many advantages to researchers.
Tesla Motors (NASDAQ:TSLA) has come up with a program that permits Roadster owners to trade in their current car for a credit on a Model S, according to the San Francisco Chronicle. Elon Musk’s electric car company built and sold 2,500 of the sports car with two seats, no trunk space to speak of, and a lot of power. The Model S, which is currently on sale for at a price between $57,400 and $105,400, is designed to be more practical and comfortable. Tesla will then re-sell the Roadsters to new buyers for a price lower than the original cost of the vehicle, $109,000. Estimates are that a four-year-old car with 31,000 miles will cost $73,000, while a two-year-old car with 2,900 miles will be $93,500.
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