Richard Li, the Hong Kong billionaire outbid in the sale of bankrupt Fisker Automotive, still stands to make more than $60 million on the company’s loan he bought at auction from the Energy Department last year, The Wall Street Journal reports.
In order to get the National Highway Traffic Safety Administration to close out an investigation into two of its vehicles being destroyed by fire, Tesla Motors is beefing up the shielding around the lithium-ion battery packs in the Model S, The New York Times reports.
Tesla Motors Inc. is developing a "fleet" business model: A new finance arm of the company is offering a leasing program to enable small and medium size businesses to get tax deductions on the electric vehicles, The Wall Street Journal reports.
DETROIT (AP) — General Motors says it's investing $449 million in two Detroit-area factories to build the next generation Chevrolet Volt hybrid electric car.
The company says the investment eventually will bring a second shift at the Detroit assembly plant that makes the Volt and other cars. But it wouldn't say how many jobs would be added or when the people would be hired. The plant now employs about 1,600 on a single shift.
The Energy Department plans to reform its Advanced Technology Vehicles Manufacturing loans program to open it to vehicle component manufacturers and be more responsive to applicant's needs, The Hill reports.
China Vice Premier Ma Kai suggested the country would eliminate a 10 percent auto-purchase tax on electric and other alternative-fuel vehicles and slow the phase out of subsidies in order to encourage sales, Bloomberg reports.
BERLIN (AP) — Automaker Daimler AG is acquiring the remaining shares in a lithium-ion battery cell maker from specialty chemical company Evonik Industries AG as it intensifies its focus on electric cars.
The German companies said in a statement Tuesday that in addition to acquiring Evonik's 50.1-percent stake in Li-Tec Battery GmbH, Daimler will also buy Evonik's 10-percent share in their Deutsche ACCUmotive GmbH & Co. KG battery partnership. Daimler is now sole owner of both companies.
Kingston Chang, the General Manager for Tesla Motors' operation in China, has left the company after about a year in the post, Bloomberg reports, noting that the move comes not long after Tesla CEO Elon Musk announced his intention to expand operations there.
The man who took over Interior Department oversight of offshore drilling in the wake of the Deepwater Horizon disaster – Michael Bromwich -- has expressed concern that safety could be a tempting area for cuts as companies tighten their belts in response to lower oil prices, National Journal reports.
After cutting 9,000 jobs - and announcing more cuts to come - as a result of the crude price crash, oil field services company Halliburton reported results above analysts’ expectation, The Wall Street Journal reports.
A report of a drop in stockpiles at the Cushing delivery point helped support oil prices Monday, Reuters reports. U.S. benchmark crude settled 64 cents higher at $56.38 a barrel, having bounced around in a $2 spread throughout the day, while in London Brent finished flat at $63.45.
On the fifth anniversary of BP’s oil spill in the Gulf of Mexico, Americans United for Change is running an ad campaign linking repeal of the renewable fuel standard to a higher risk of more spills, The Hill reports.
As the Environmental Protection Agency finalized its regulations for the disposal of coal ash, Dominion Virginia Power announced it would shut its coal ash ponds in the state, the Richmond Times-Dispatch reports.
A day before the Environmental Protection Agency’s rule limiting power plant mercury emissions took effect last week, Rocky Mountain Power’s Carbon Power Plant – the oldest in Utah generating electricity from coal – went offline for good, The Salt Lake Tribune reports.
After four years of European Union investigation, anti-trust chief Margrethe Vestager is ready to file charges against Russian gas giant Gazprom for abusing its dominant position in the market, sources tell The New York Times.