SHANGHAI - General Motors China and the state-owned automaker FAW Group Corp.
have launched a $293 million joint venture to make light-duty trucks and vans
for the China market. MORE
WASHINGTON-Cash for Clunkers generated nearly 700,000 new car sales and ended under its $3 billion budget, the Transportation Department said Wednesday. Releasing final data, the government said dealers submitted 690,114 vouchers totaling $2.88 billion. Japanese automakers Toyota, Honda and Nissan accounted for 41 percent of the new vehicle sales, outpacing Detroit automakers General Motors, Ford and Chrysler, which had a share of nearly 39 percent. MORE
WESTBOROUGH, MA-The building was leased, the press alerted, and the state had pledged millions in support. Battery manufacturer Boston-Power Inc. was ready to accept a huge chunk of change from Washington to pay for a new factory in Auburn, MA. Then, on Aug. 5, the word came down. The company would not get the $100 million in federal stimulus money it hoped for. Now, the company says it will build the plant elsewhere-perhaps in Europe or Asia. MORE
LANSING, MI-Gov. Jennifer Granholm says a
plan to convert Ford's shuttered Wixom factory into a $725 million
renewable
energy park could create more than 4,000 jobs and become the crown
jewel of
Michigan's new economy. MORE
CHICAGO-After years of delay and technical
problems, Boeing now says its groundbreaking 787 Dreamliner will finally take
to the skies by the “end of 2009.” MORE
AUBURN HILLS, MI-Chrysler Group LLC has sued Daimler AG, accusing the German automaker of failing to uphold parts delivery contracts and jeopardizing the production of key 2010 vehicles. MORE
CHICAGO-Boeing has notified South Carolina officials that it will file for the permits necessary to build a 787 assembly plant in North Charleston. MORE
WASHINGTON-Sales of new homes rose for the fourth month in a row in July, increasing an estimated 9.6 percent to an annual rate of 433,000, the Commerce Department reported Wednesday. The seasonally adjusted sales rate was the highest since last September. MORE
WASHINGTON-Orders for durable goods rose last month by the largest amount in two years, as the manufacturing sector rebounded from the depths of the recession. The Commerce Department said Wednesday that orders for goods expected to last at least three years increased 4.9 percent in July, the third rise in the past four months. Analysts expected a 3 percent increase. Orders for June were revised up to a 1.3 percent drop, from a 2.2 percent decline. MORE
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