GM Gains as U.S. Agrees to $5 Billion in New Aid
from Bloomberg
General Motors Corp., surviving on $13.4 billion in U.S. loans, rose in New York trading after a government auditor said the Treasury will supply $5 billion in additional aid. The Treasury has said it will provide GM and Chrysler LLC working capital as the companies face deadlines to restructure or lose federal support. Chrysler will get $500 million more from the Troubled Asset Relief Program, TARP’s special inspector general said in a report. More

Navistar Awarded Department of Energy Funding for Plug-In Hybrid School Bus
from The Auto Channel
Continuing its leadership in the development of hybrid commercial vehicles, Navistar was selected by the U.S. Department of Energy to participate in a project that will develop and deliver energy-efficient and environmentally friendly plug-in hybrid school buses. The U.S. Department of Energy announced late on Friday that it had selected Navistar for a cost-shared award of up to $10 million—half of the total projected cost. As part of the Plug-in Hybrid Electric Vehicle (PHEV) Technology Acceleration and Deployment Activity program, Navistar will develop and deploy 60 plug-in electric hybrid buses to fleets across the nation during a multi-year program. More

Chrysler Lenders Offer to Swap $2.5 Billion for Equity
from Detroit Free Press
Chrysler LLC’s lenders are offering to erase $2.5 billion of Chrysler’s $6.9 billion secured debt in for equity, according to a person briefed on the proposal. The person says the debt holders want a minority stake in a joint Chrysler-Fiat company. They made the counteroffer to Chrysler and the U.S. late Monday night. More

Toyota Likely to Apply Fuel-Cell Technology to Long-Haul Trucks and Buses First
from Truck Trend Magazine
Toyota continues pushing ahead with its fuel-cell program and is looking to market a fuel-cell vehicle in 2015. The alternative fuel technology will likely be applied first to long-haul trucks and buses before hitting passenger vehicles available for mass consumption. Toyota has leased more than 60 FCVs in Japan and the U.S. for preliminary testing and R&D since 2002, and another 14 units are planned for 2009. The FCVs are mainly modified Highlander SUVs and city buses. In the Aichi prefecture alone are eight fuel-cell-powered buses. More

Ford's Accelerated Battery Research Drives Development of Vehicle Electrification Plans
from Yahoo! Finance
One of the hurdles in the race to develop automotive Li-ion battery systems for high volume hybrid, plug-in hybrid and battery electric vehicle programs is improving the technology's durability. Ford's advanced battery researchers are working with battery suppliers, utility companies and top-tier academic researchers to develop, test and validate high-powered battery systems that are durable enough to last the lifetime of a vehicle. More

Demand for Truck Parts to Grow
from The Journal of Commerce Online
The aftermarket for medium and heavy duty truck parts will increase 3.8 percent annually to $17.1 billion in 2013 partly as a result of carriers placing heavier demand on fleets during the current recession, according to a research group. Cleveland-based Freedonia Group said tighter environmental regulations and safety standards are also expected to increase demand for engine components as trucks are retrofitted with new emissions control equipment. More

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Bright Automotive Unveils 100 mpg Hybrid Truck
from AP
It sounds like a bright idea. Anderson, Ind.-based startup Bright Automotive unveiled the IDEA, a 100-mpg plug-in hybrid electric van that it is looking to sell to fleet customers such as businesses and government agencies. The automaker's goal is to produce 50,000 vehicles a year starting in 2013. The ultimate outcome, it hopes, will be millions of dollars in savings in gasoline and drastically reduced emissions for fleet users. More