General Motors has begun construction of a facility for advanced race engine design and development, as well as an electric motor laboratory and gear center. The new GM Performance and Racing Center (GMPRC) is located next to the GM Powertrain Engineering headquarters in Pontiac, Mich.
The U.S. government lost $11.2 billion on its bailout of General Motors, more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday.
Former Formula One driver for Red Bull Racing and now a driver for Porsche’s factory Le Mans team, Mark Webber has driven some very fast cars.
Italy’s plan to offer up to €5,000 in public funds for buyers of electric vehicles starting on May 6 is a waste of money because the scheme is flawed, Italian dealers association Federauto said.
Robert Bosch expects sales growth of between 3 percent and 5 percent this year, even as the German supplier shifts its focus toward Asian markets and developing Internet-connected sensors.
