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Get ready for the New GM

Unless there is some sort of major, unforeseen hiccup, the sale of General Motors' assets--creating a new company--is expected to close Friday. The new GM will be 60.8 percent owned by the U.S. Treasury.

New Longbridge production line

By Tim Pollard Motor Industry 31 May 2007 10:10 Reborn MG opens its doors at Longbridge Yesterday marked the latest chapter in one of the genuine rollercoaster stories of our times: the rise and fall – and now yet another recovery – of car production at Longbridge, the spiritual home of some of the most famous nameplates in British car manufacturing. This time it’s the rebirth of MG, now in Chinese hands and back from a near-death experience since MG Rover collapsed in April 2005. Nanjing Automobile Corporation (NAC) is the oldest car maker in China and paid £50 million to snap up the MG brand and manufacturing rights, but can it really stand a chance with its new English project?  The Chinese manufacturer is reviving the MG brand and, in Europe, the first model on sale will be the revised TF roadster on sale around September 2007.

GM tipped to buy Tesla in 2014 - report

Tesla Motors Tesla has made a real splash in the electric-car scene, so it should come as no surprise that its success is generating renewed interest in the fledgling start-up. New media reports in the US suggest that one of America's biggest car makers, General Motors, is considering buying Tesla in 2014. Veteran auto industry analyst Yra Harris, of Praxis Trading, told CNBC that GM may make a bid for Elon Musk's electric vehicle (EV) specialist in the coming months.