The research consortium between GM
Scott Fosgard, GM spokesman, said the change indicates that both companies are satisfied they can move from research into proprietary development of fuel cells that could be used in automobiles. One of the major advantages of fuel cells, which create electricity from a chemical reaction, is that they could help eliminate pollution from private automobiles, advocates of the technology suggest. GM is not backing away from its objective of producing by 2010 a commercially viable fuel cell that could be used in future vehicles, Fosgard added. GM's fuel-cell projects continue to make substantial progress on critical issues such as durability, energy density, and cost, he added.
Feb. Sales: Chrysler, Japanese
Strong by Joseph Szczesny
GM and Ford slip slightly as sales stay flat.
TH!NK Files for Bankruptcy
TH!NK Nordic AS, which was
literally wheeled onto the world stage by former Ford boss Jac Nasser, has
now filed for bankruptcy and under the tough bankruptcy laws that prevail in
Western Europe faces almost certain dissolution. Ford brought almost 300
TH!NK-built electric cars to the
For Rethinks TH!NK Scrapping by Joseph Szczesny
Vehicles will return to
Ford Expects More Losses
Ford expects its basic automotive
business to lose money again in 2006 as it struggles to trim costs.
Ford disclosed the anticipated loss in a 10K report it filed with the U.S.
Securities Exchange Commission. Ford also said the losses in the automotive
business would not extend beyond 2008. In another passage of the
report, Ford cautioned that the bankruptcy of a major competitor could
create problems for Ford. Bankruptcy would give the unnamed competitor an unfair
cost advantage if its labor contracts were wiped out by the bankruptcy judge.
The cryptic comments were dropped into the middle of the report and indicated
Ford executives are concerned about the possible consequences of a bankruptcy
filing by General Motors Corp. However, Rick Wagoner, GM's chief
executive, has said several times that bankruptcy is not an option for
Ford also disclosed that it is considering a $1 billion charge in connection with "The Way Forward" restructuring plan, which calls for eliminating 30,000 jobs and closing 14 facilities by 2012 under the plan outlined in January. As part of the restructuring, Ford plans to close assembly three assembly plants in
Special Report: Ford's Way Forward by TCC Team (1/30/2006)
Volkswagen's Mess Could Eat Pischetsrieder
Volkswagen AG chairman Bernd Pischetsrieder told the Financial Times that his job could be at risk if labor representatives on the company's supervisory board make good on opposing a contract renewal for the 58-year-old Bavarian. Meanwhile, supervisory board chairman Ferdinand Piech, who recruited Pischetsrieder as his replacement, has not exactly been backing up his protégé.