DETROIT—Wanxiang Group, a large Chinese auto parts maker, has won a high-stakes auction for the assets of A123 Systems, the bankrupt American battery maker.
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.
WASHINGTON—U.S. manufacturing grew slightly last month and factory hiring increased. The modest gain suggests the economy entered the new year with some momentum. The Institute for Supply Management said its index of manufacturing activity rose in December to 50.7. That’s up from a reading of 49.5 in November, which was the lowest reading since July 2009, one month after the recession ended.