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American Suzuki to pull out of U.S. auto market, file Chapter 11 bankruptcy
Mon, 05 Nov 2012American Suzuki Motor Corp., beset by low sales, cutthroat competition and unfavorable foreign exchange rates, said it will pull out of the U.S. auto market and file for Chapter 11 bankruptcy protection. The company, in a statement today, said it will continue its motorcycle and marine engine business units and will continue to honor customer warranties.
New Kia launches Focus and Golf attack
Tue, 15 Aug 2006By Phil McNamara Motor Industry 15 August 2006 09:00 Europe's fastest growing car brand – Kia – is finally wading into Europe's biggest market with a serious contender. But with a joke of a name: the Cee'd. Kia claims the five-door hatchback will be the most spacious car in the C-segment, where it will do battle with the VW Golf, Ford Focus et al.
Better Place EV Battery Swap business goes bust
Tue, 28 May 2013It seemed like a good idea: take the cost of batteries out of the cost of buying an electric car and instead charge EV owners to use ‘Battery Swap’ stations where depleted batteries could be swapped for fully charged ones in the time it takes to fill an ICE car with petrol. But it’s all gone a bit Pete Tong. Better Place – which partnered with Renault in 2009 to make the battery swap technology viable – has failed to find anyone to add to the $750 million already involved in the project and has filed for bankruptcy.
