| General Motors Corp. may sell its medium-duty truck | | | | real speeds," Burns noted. "We've taken the world's |
| business as it concentrates on making a profit from | | | | most technologically advanced vehicle on a 300-mile |
| building cars and light trucks. "We are considering | | | | road trip to show we've overcome a big hurdle |
| options for our medium-duty truck business to better | | | | toward commercializing our fuel cell vehicles -- |
| position the unit for growth," GM spokeswoman Melisa | | | | achieving the driving range expected by today's |
| Tezanos said Wednesday. She wouldn't comment on | | | | consumers. |
| potential purchasers. The largest American automaker | | | | He added, "Sequel and GM's other fuel cell vehicles |
| does not break out the unit's financial results. | | | | address these very real concerns pointing the way to |
| In 2006, the unit manufactured about 40,800 Chevrolet | | | | a new energy future a future in which hydrogen is a |
| Kodiak, GMC TopKick and Isuzu T-Series models. | | | | common energy currency for our vehicles in which |
| These vehicles are primarily used as dump trucks and | | | | hydrogen and electricity become interchangeable |
| delivery vehicles. Additionally, the Flint Journal reported | | | | energy carriers in which both are created from |
| this week that Navistar International Corp. may be | | | | diverse, and largely renewable, energy resources." |
| interested in the Flint-based unit. The latter employs | | | | End of Sequel |
| about 500 people. Roy Wiley, a spokesman for | | | | In the New York test, the automaker put its two |
| Warrenville, Ill.-based Navistar, declined to comment. | | | | existing Sequel development vehicles on a |
| "This deal makes so much sense, I hope it gets done," | | | | cross-country run that included numerous hills and |
| Bear Stearns analyst Peter Nesvold said Wednesday. | | | | temperatures in the mid-80s. Notwithstanding the |
| Nesvold estimated that the medium-duty truck | | | | challenges, both vehicles completed the run with only a |
| business has annual revenue of about $2 billion and is | | | | few precautionary stops to check on temporary fault |
| worth $450 million to $500 million. | | | | readings from sub-systems. The vehicles each used |
| If Navistar were the buyer, the new production could | | | | less than seven kilograms of compressed hydrogen |
| add 50 cents to $1 a share to that company's | | | | and averaged an equivalent of 43 mpg, impressive for |
| earnings, wrote Nesvold in a report Tuesday. Nesvold, | | | | large bodied SUV-style vehicles that weigh 5300 |
| who is based in New York, rates GM shares | | | | pounds. |
| "outperform" and Navistar shares "peer perform." | | | | However, the Sequel has no plug-in feature and can |
| Still recuperating… | | | | only drive for a few miles on stored energy once the |
| The Detroit automaker has sold over $16 billion in | | | | hydrogen tanks are empty. The test vehicles also |
| assets in the past couple of years to pay operating | | | | carry a host of technologies, such as steer-and |
| costs as it posted net losses of $12.4 billion. Chief | | | | brake-by-wire controls instead of standard hydraulics, |
| Financial Officer Fritz Henderson said April that GM is | | | | wheel hub motors and a lighter weight aluminum |
| still reviewing options for assets, including the Allison | | | | structure. |
| Transmission unit in Indianapolis, which are outside its | | | | Many of the same engineers and technicians who |
| main automotive operations. | | | | developed the Sequel are now on the Volt team. The |
| To stress, the Detroit automaker is currently under | | | | Sequel gets a power boost with the help of a pack of |
| pressure to boost sales of cars and light trucks in the | | | | lithium-ion batteries, the same as those found in |
| United States after Toyota Motor Corp. outsold GM | | | | computers and cell phones. |
| worldwide last quarter for the first time ever. The | | | | Engineers behind the Sequel said they have managed |
| automaker needs the help of Green Filters to sift the | | | | a 30 percent increase in energy efficiency since |
| mismanagement | | | | September. Chris Borroni-Bird, GM's director of |
| This year, GM announced its target global sales of 9.2 | | | | advanced technology vehicle concepts, said the |
| million cars and trucks, while Toyota expects to sell | | | | Sequel will be indicative of future automobiles, which |
| 9.34 million. GM's asset sales include 51 percent of its | | | | will benefit from advancements in electronics rather |
| finance unit to a group led by Cerberus Capital | | | | than mechanics. "We haven't changed any of the |
| Management LP, increasing $13 billion over three years, | | | | hardware (since September)," Borroni-Bird said. "We've |
| and stakes in Suzuki Motor Corp., Isuzu Motors Ltd. | | | | improved the software." |
| and Fuji Heavy Industries Ltd., creeping up $3 billion. | | | | Top ad exec to depart |
| GM's cash, marketable securities and funds available | | | | Separately, GM chief North American advertising |
| from a retiree health care fund plummet to $24.7 billion | | | | executive is leaving the company after just over a |
| at the end of March from $26.4 billion at the end of | | | | year on the job, GM said on Thursday. Mike Jackson, |
| December as the automaker made a $1 billion payout | | | | one of the highest-ranking African-American |
| to GMAC and another $1 billion for a convertible bond | | | | executives at GM, will leave June 15 divulged the |
| payment. | | | | automaker in a statement. Jackson oversaw |
| On producing commercial fuel cell vehicles | | | | unprecedented change since taking over advertising |
| GM announced its plan to manufacture commercial | | | | for the automaker’s eight brands and its corporate |
| fuel vehicle like the Volt in a span of four years. | | | | image. |
| Larry Burns, GM's vice president for research and | | | | The automaker has uprooted several long-help ad |
| development, said the next step is to continue work on | | | | accounts amid an industrywide shakeup in automotive |
| production engineering of the Chevrolet Volt fuel cell | | | | advertising. He also created GM Style, a celebrity |
| E-flex system, which contains the same basic fuel cell, | | | | fashion show help on the banks of the Detroit River, to |
| battery and electric drive combination as the Sequel. | | | | lead into this year's North American International Auto |
| The decision to go ahead with production engineering | | | | Show. |
| of the Volt -- with a plug-in, gasoline engine version as | | | | "Throughout his tenure, Mike has contributed to GM's |
| well as the fuel cell variant -- was recently firmed | | | | improved product image, and brought a creative |
| up."We are now entering into a mainstream vehicle | | | | approach to GM's market presence," according to the |
| production process that typically lasts three to four | | | | GM statement from GM marketing chief Mark |
| years," Burns added. "We are no longer in the | | | | LaNeve. The managers and support staff who |
| skunkworks stage." | | | | reported to Jackson will now report to LaNeve. |
| "What makes this different is we're on real roads with | | | | |