During an interview Monday, General Motors Europe Chief Executive Nick Reilly announced that they are "pretty near the end" of discussions with Renault about extending their deal and keeping the Luton plant open for business. The Luton plant is operated through a partnership between GM Europe and Renault that is supposednto last until 2013. But since GM crashed into Chapter 11 bankruptcy protection in the US last year and with major ... Read More

With the help of a venture-capital firm created by its government, the struggling auto industry of Sweden will get a bit of a boost by launching several investments this year to secure financing from private-equity groups. In an interview with Business Week, Fouriertransform AB chief executive officer Per Nordberg admitted that more than 50 companies have already come to them looking for money. He added that the company already made its ... Read More

After news breaking about Toyota's recall of hundred of their vehicles due to technical problems, analysts are actually seeing this as a good thing. This because, according to experts, will result to a reordering in the world rankings of automotive companies creating better competition. For years, Toyota has been in the top of the auto industry game, having low-cost manufacturing systems, reliable vehicles, the best hybrid technology and loyal customers. But ... Read More