Tesla Motors Inc. (TSLA) is planning to take another step forward in realizing its dream of making its Model S a hit in China. Elon Musk, the company’s co-founder and CEO, plans to meet this month with officials from Sinopec, the largest chemical refining company in China, according to a Chinese media report yesterday.
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Today, U.S. Commerce Secretary
John Bryson traveled to Cleveland, Tennessee, where he visited the Whirlpool
a ribbon cutting
ceremony for their new, one-million square foot manufacturing facility.
The $200 million factory is the largest premium cooking product manufacturing
and distribution facility in the world, exemplifying the Secretary’s mission to
help U.S. business make it here and sell it everywhere. The opening of the
facility marked 100 years of Whirlpool manufacturing Made-in-America products.
While in Tennessee, the
Secretary also made a stop in Chattanooga to visit the Volkswagen manufacturing
plant, which builds the 2012 Passat. Volkswagen recently announced that they
were adding a third shift to the operation at their Chattanooga plant in
response to increased consumer demand, which will create over 700 additional
jobs. This development is just one more example of the continued resurgence of
the American manufacturing industry.
In fact, today,
the Economics and Statistics Administration highlighted data showing that automakers
are contributing heavily to the success of American manufacturing. The
report finds that auto sales are at the highest level since the first quarter
Ford, GM and other foreign car makers in China find it harder to attract and keep engineering talent, as more Chinese car companies offer better pay packages and at times broader professional experience.
Startup electric automaker Coda, which filed for bankruptcy today, managed to sell only about 100 units of its only model. That's not surprising: On top of insufficient funding and production delays, Coda made a really ugly car.