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GM Chairman Urges Easing of Pay Caps 11 Nov 2009
GM chairman Ed Whitcare says it is hard to attract talent with pay restrictions, reports CNBC's Phil Lebeau.
GM's Road Ahead 11 Nov 2009
General Motors Chairman Ed Whitacre is calling on the Obama administration to loosen pay caps. CNBC's Phil LeBeau has more on this and GM's road ahead.

Car Imports Widen UK Trade Gap

10 Nov 2009

The UK's trade deficit widened to an eight-month high in September as the number of imported cars rose sharply. Neil MacKinnon from VTB Capital spoke to CNBC about the outlook for the UK and sterling.

The Nikkei Business Report

09 Nov 2009

The Nikkei 225 finished up 0.2% at 9,808 Monday, but volume was down at a 6-week low. Fast Retailing, Suzuki Motor, and Kubota were top gainers, but major power companies were among the hardest hit. Makiko Utsuda from The Nikkei has more.

Fiat's 5-Year Road Plan for Chrysler

05 Nov 2009

Fiat said its 5-year road plan to turn around Chrysler will result in the doubling of revenue. "There is no alternative but for Chrysler to be ambitious at this point," Stefano Aversa, co-president of restructuring specialists Alix Partners, said Thursday. "They have plenty of cash."

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CNBC ON DIGG

The Electric Car Race Heats Up

Published: Tuesday, 23 Jun 2009 | 9:22 AM ET

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By: Phil LeBeau

They've been jockeying for position for some time. But this morning, auto makers around the world will take big steps in the race to build mass market electric cars. When Energy Secretary Steven Chu announces grants for the development of fuel efficient vehicles and technologies, Ford, Nissan and Tesla will be the immediate beneficiaries.

Each company is getting a chunk of the $25 Billion Congress has set aside for the Department of Energy to allocate for developing greener vehicles in the future. Keep in mind, greener does not necessarily mean electric cars only. But it is clear, the White House wants the auto industry to rev up development of electric cars. So far, 75 auto industry firms have applied for DOE money.

So which auto makers are leading the electric car race.

Tesla
Tesla: The California based company turned heads couple of years ago with it's Tesla Roadster. As impressive as the Roadster is, the Tesla's upcoming Model S is far more important because it's more of a mass market model with an expected price tag of $57,400. Tesla says the Model S will be on sale by the third quarter of 2011. With Tesla already having a loyal following of supporters, look for the Model S to do well right off the bat.

Ford: The auto maker plans to have a yet to be named electric car in showrooms by 2011. I've driven a modified Focus packed with the technology that will go into Ford's new electric car. It's performance was impressive during a very short test drive.

Nissan: CEO Carlos Ghosn says Nissan will sell an electric car in the U.S. by 2010. It's been letting reporters test out the technology behind that future vehicle and it's generating some positive buzz. CEO Ghosn says Nissan's electric car, with a range of up to 100 miles, will be built at the company's plant in Smyrna, Tennessee.

GM: The Chevy Volt comes out in 2010 and it has received plenty of attention. GM has done a good job of trying to generate buzz with the Volt, but it's estimated price tag of $40,000 has some wondering how successful the Volt will be. Nonetheless, GM wants to be first with an electric car and hopes the Volt will do for GM what the Prius has done for Toyota.

Toyota: While others have made a big deal about their electric car plans, Toyota has been relatively low-key. It has shown a small car proto-type and says it will have an electric car for urban areas out in showrooms by 2012. Toyota's cautious approach to talking about electric car plans should not be taken as a sign the company is not working hard on the next generation green car.

Toyota Heir Carries Weight of 'Toyoda Restoration'

Chrysler: The company has shown a number of reporters, including me, an array of electric car proto-types. These cars have technology new owner Fiat will develop as quickly as possible. But keep in mind, this is a company with a whole host of issues it needs to fix. So be patient waiting for Chrysler to roll out an electric car.