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Tesla EV stores could be banned in New Jersey

New Jersey has become the third U.S. state to halt the sales of Tesla cars sold directly through Tesla from company-owned outlet stores. New Jersey follows in the steps of Arizona and Texas in implementing a rule that would ban Tesla from operating its stores, which are alleged to violate state dealer-franchise laws mandating vehicles sales through third-party dealerships.

Saab gets latest lifeline via $5 million infusion from Chinese company

Saab has been on the edge of collapse since a cash shortage early this year forced it to halt production. Now Automotive News reports that a last-minute payment from China's Zhejiang Youngman Lotus Automobile has given the Swedish carmaker yet another shot. Youngman wants to get a stake in Saab and has taken the first step by giving the company $5 million to cover tax expenses, with another $26.43 million forthcoming for unpaid salaries and $13.18 million more before the end of December.

Whitacre named General Motors' permanent CEO

Ed Whitacre, General Motors Co.'s chairman, will become the automaker's permanent CEO, it was announced on Monday. In a brief press conference, Whitacre, 68, said GM plans to pay back government loans to the U.S. and Canada by June.