Vehicles Blog

Updates from June, 2010

• Elon Musk, CEO of Tesla Motors Inc., made at least $24 million from the electric-car maker's initial public offering, restoring some of the wealth he's staked on the company and other startups. Tesla set a price of $17 a share and Musk sold 1.
  1:10 am on June 30, 2010
   

• Toyota Motor Corp. must turn over information about brake-override technology in its older model vehicles and describe the role a consulting firm plays in the investigation of unintended acceleration, two lawmakers said.
  6:37 pm on June 29, 2010
   

• Shares of Tesla Motors Inc. surged in their first day of trading on Tuesday as the company raised more than expected in its initial public offering of stock.

  
  
  5:43 pm on June 29, 2010
   

• Chevrolet plans to launch a family van soon in several global regions, GM Vice Chairman Tom Stephens said today in showing analysts GM's future product plans. General Motors Co.
  5:00 pm on June 29, 2010
   

• Toyota Motor Europe wants its new UK-made Auris hybrid to help it pass Fiat to takeover as Europe's low-CO2 champion.
  9:24 am on June 29, 2010
   

• Nissan said today it aims to double its car production and market share in Indonesia by 2013, as strong demand in Southeast Asia's largest economy drives domestic sales.
  5:31 am on June 29, 2010
   

• Hyundai Motor America today named Michael O'Brien vice president of product and corporate planning -- an influential position that has been vacant since John Krafcik became CEO in late 2008. O'Brien, 55, spent the last 14 years at Toyota Motor Corp.'
  4:15 am on June 29, 2010
   

• German ball-bearing maker Schaeffler Group stepped closer to a merger with Continental AG, hiving off its healthy operating business into a separate company together with its 75 percent stake in the Hanover-based German auto parts supplier.
  1:01 am on June 29, 2010
   

• Stock in Tesla Motors Inc., the first U.S. carmaker to launch a public stock offering in 54 years, surged almost 41 percent in its first day of trading even as broader markets were plummeting. Tesla finished the day with a gain of $6.89, to $23.
  1:01 am on June 29, 2010
   

• General Motors Co. -- laying the foundation for an initial public offering as early as this fall -- told analysts today it will introduce 70 new or upgraded models in international markets by 2014.
  1:01 am on June 29, 2010