Honda goes solar with $65 million investment

Paul A. Eisenstein, the Detroit Bureau - 2 days

The first automobile manufacturer to a hybrid-electric vehicle in the US market Honda offer is still delve deeper into renewable energy with a project, which means it could make solar power affordable for its dealers and customers.

Honda's new partnership with SolarCity to make energy from the Sun less power expensive than utility, according to the carmaker - a $65 million investment fund has established to secure the project.

"We believe that Honda and Acura customers go to very interested, solar will as soon as they realize that they can install solar home with little or no costs upfront can reduce their monthly energy bill, and can a positive contribution to the protection of the environment," said Steven Center, Vice President for the environment business development office by American Honda Motor Co.Inc.

2006 By Lyndon and Peter Rive brothers founded and headquartered in San Mateo, California, SolarCity offers various Sun-driven technologies, including commercial and solar power of arrays and solar for electric vehicles, the Honda it also says charging stations "imagination" for its future EV and plug-in hybrid customers.

The project will target customers and dealers in the area 14 State service SolarCity now runs - including a number of markets where cars of the most traction, such as California, Texas and the mid-Atlantic region win battery.

The partnership is Honda and Acura customers and dealers offer several financing options with little or no up-front costs, including an option that the manufacturer claims "less than the cost of their utility bills, insurance, repairs and tracking service be included."

The project allows owners of Honda vehicles, energy-efficiency upgrades, including weather and improved heating and cooling systems.

"Make that easier and cheaper strengthen it for its customers by using clean power, Honda, is the fact that solar is the new normal," said SolarCity CEO Lyndon Rive.

A number of car manufacturers have investigated the potential of solar energy. Several, such as Toyota, and Fisker offer vehicle on the roof panels that can be used to supplement battery power or operate a vehicle ventilation system on hot days.

General Motors, Audi and Volkswagen, now large solar plants have added to their plants. GM Detroit-Hamtramck plant, used, for example, solar energy free of charge until the batteries the Chevrolet Volt plug-in produces hybrids to help at the site. And VW, recently a solar farm on which in its factory in Chattanooga, Tennessee. The 33-acre system generates enough energy to power 1,200 homes - or around 12.5% assembly plant energy required.
Copyright © 2009-2012, the Detroit Bureau

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Government ends Chrysler investment

WASHINGTON – the Treasury Department said on Thursday that it has finished its investment in Chrysler LLC after Italian automaker Fiat SpA of Government-purchased remaining holdings in the car company.

Fiat $ 560 million to the Treasury Department for the Government paid 98,000 shares. Fiat, the company has run since it emerged from bankruptcy protection in June 2009.

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Treasury provided a total of $12.5 billion in Chrysler and whose financing arm after hampered the recession, auto sales and Chrysler and GM sent to the brink of collapse. The money came from the Government $700 billion Bank Bailout Fund.

Since then, has $11.2 billion of aid were repaid, Treasury says. Chrysler $5.1 billion in loans from the Government paid back in May. The Treasury said, that probably the remaining $1.3 billion to recover it won't.

Thursday, the Canadian federal and Ontario announced that they have sold its remaining shares in Chrysler to Fiat for $140 million. The money is loans given to the U.S. based automaker two years ago the final repayment of the Government of Canada.

The purchase of U.S. and Canadian Governments are inserts Fiat 53.5% ownership of Chrysler. This should increase before the end of the year to 57 percent as Chrysler begins production of a small car 40 mpg in the United States

Chrysler has made a remarkable turnaround from two years ago, when it was rescued by the Government.

The company earned $116 million profit in the first quarter and 2011 forecast profit of $200 million to 500 million. The company has under the leadership of CEO of Fiat, Sergio Marchionne reduce costs, and most of its lineup of Jeep, Chrysler, Dodge and RAM vehicles revived the sales of rehabilitation.

Its sales increased by 30 percent in June compared to the previous year.

Fiat, a 20-percent stake in Chrysler received after the bankruptcy in exchange for management expertise and technology. The Italian automaker its share gradually raised, criteria laid down by the Government through fulfillment.

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