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General Motors newest CEO Dan Akerson will receive a $9 million compensation package that includes an annual $1.7 million in cash, $5.3 million in salary stock delivered over three years starting on September 30, 2011, as well as $2 million in restricted stock. Continue reading.
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Recorded on September 19, 2010
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In Steven Rattner’s new book Overhaul: An Insider’s Account of the Obama Administration’s Emergency Rescue of the Auto Industry, the former auto task force chief explained that the job of General Motor’s CEO was first offered to Carlos Ghosn, current CEO of Renault Nissan. Continue reading.
Chevrolet has announced a demonstration project meant to “explore market needs and customer acceptance of battery electric vehicles.” As part of the project, the bow tie brand will launch a fleet of electric vehicles (EVs) based on the highly-acclaimed Chevy Cruze sedan. Continue reading.
Fact: recalls aren’t fun. Unfortunately, they must be dealt with on a semi-regular basis. To that end, General Motors has issued a recall notice for 20,224 units of 2009-2010 all-wheel drive Cadillac CTS and CTS-V models due to lack of compliance with a federal motor vehicle safety standard that could lead to a possible issue with the front passenger-side knee airbag. Continue reading.
Chevrolet Europe has given its Captiva CUV a fairly substantial mid-cycle refresh, consisting of an updated exterior design, improved interior, and a new engine and transmission lineup. The updated Captiva will be one of four Chevrolet world premieres at the upcoming Paris Motor Show, joining the Cruze hatch, all-new Aveo, and Orlando MPV. Continue reading.
Opel has announced pricing for its Astra Sports Tourer, which will be present at the upcoming Paris Motor Show from October 2-17. The Tourer, which Opel describes as beautiful, athletic, practical, eco-friendly, and affordable, is essentially a wagon version of the Astra 5-door hatch.
The Delta II-based wagon will be available with a base 1.4 liter ecoFLEX diesel that makes 74 kW (100 hp) and starts at €18,000 (in Germany). A total of eight powerplants will be available in the Sports Tourer, including three diesels and five gasoline-powered ECOTEC four-bangers. All engines will range from 100 to 180 horsepower. Continue reading for more info and a beautiful gallery.
General Motors still faces a few barriers to a wildly successful Initial Public Offering, which it is planning to introduce later this year. One of these hurdles involves converting individual investors who lost their ownership and equity in the Old GM last summer – yours truly included. Continue reading.
The fine folks at Chevrolet have just posted a video explaining how the upcoming Volt operates. As you would expect, the video touts the vehicle’s range, electric capability, and the interaction between the engine-generator and electric motor. Catch the video – as well as the infamous GM Authority Take – right after the break.
GM Ventures, General Motor’s Venture Capital subsidiary, has announced a $4.2 million investment in Sakti3, Inc. – an Ann Arbor-based developer of next-generation lithium-ion batteries. Continue reading.
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