SHREVEPORT, LA—Elio Motors Inc. is investing $100 million to take over GM’s former assembly plant here to produce three-wheeled fuel-efficient vehicles. The company could employ 1,500 people by late 2015.
BOSTON—GrabCAD, an online community for sharing CAD expertise, is sponsing a contest to design a steering wheel for a supersonic car. A $1,000 prize will be awarded to the winning entry. Designs must be submitted by Jan. 31.
GRAND RAPIDS, MI—Thirty-six percent of automotive suppliers declined to give a price cut to Toyota, according to the latest survey by IRN Inc. In contrast, only 22 percent of GM’s suppliers rejected price cuts, and 19 percent of Chrysler’s suppliers did so.
This past June, Chrysler Group LLC announced that its World Class Manufacturing (WCM) Academy had generated more than $1 million in savings after only six months.
DETROIT—The Treasury Department will sell its remaining stake in General Motors in the next year or so, winding down a $50 billion bailout that saved the iconic American car giant but also set off a heated debate about government intervention in private business.
DEARBORN, MI—Ford is spending about $773 million to expand six Michigan assembly plants while adding 2,350 factory jobs in the state, part of a broader investment plan announced last year. Ford aims to invest $6.2 billion in U.S. facilities and add 12,000 factory jobs across the country by 2015.