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| January 06, 2009 |
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our time will build eternity |
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Traffic fatalities in China fall to 73,500 in 2008: report Beijing (AFP) Jan 4, 2009 
Nearly 73,500 people were killed in over 265,000 road accidents in China last year, a 10 percent reduction in traffic fatalities over 2007, state press said Sunday. Traffic accidents in 2008 were down by 19 percent from the year earlier due to stepped up road safety measures and better management of commercial vehicles, Xinhua news agency said, citing police statistics. Along with the 73 ... read moreJapan races to build a zero-emission car 
Tokyo (AFP) Jan 5, 2009"Please erase your image of electric cars being like golf carts," a spokesman for Japan's fourth-biggest automaker said before taking a zero-emission vehicle out for a spin. As mass-produced electric cars come closer to reality, their makers are trying to polish the image of what experts say could be a hard sell in the current recession. "It's fast, powerful and smooth," Mitsubishi Motor ... more
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China's Foton says clean energy car factory opened in Beijing
Beijing (AFP) Dec 30, 2008China's Beiqi Foton Motor Co has launched a five-billion-yuan (730-million-dollar) design and production base for clean energy vehicles in Beijing, the company said Tuesday. The facility will produce up to 5,000 clean-energy buses and 400,000 fuel-efficient engines a year, the company said in a statement. The design and production base, backed by the city government, is part of the capit ... more China plans to avert US-style auto crisis: report 
Shanghai (AFP) Dec 25, 2008China's top economic planning agency is drafting a stimulus package to save the automotive sector from a US-style crisis, state media reported Thursday. The National Development and Reform Commission is to send rescue plans to the cabinet by the end of the week, and if approved they are expected to be implemented in January, the Shanghai Securities News said, citing sources. Measures wil ... more Thompson Files: Wisdom on the bailout 
Arlington, Va. Dec 23, 2008 Like Ebenezer Scrooge awakening on Christmas morning to the error of his ways, U.S. President George W. Bush has belatedly discovered the danger of relying too much on market forces. Earlier this month Bush agreed to provide bridge loans to imperiled domestic automakers that collectively account for over a quarter of the world's largest car market -- and a sizable chunk of markets in Europe, Lat ... more China opens road tunnel under Yangtze: state media 
Shanghai (AFP) Dec 28, 2008The first road tunnel beneath the Yangtze River opened to traffic on Sunday in central China, state media reported. The 3.6-kilometre (2.2-mile) four-lane tunnel has begun a three-month trial, the Xinhua news agency reported. The 1.7-billion yuan (250 million dollar) project began in November 2004 as part of efforts to relieve traffic congestion in the central city of Wuhan, which has ... more
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Chinese owner threatens to abandon SKorean carmaker : MP
Seoul (AFP) Dec 23, 2008 The Chinese owner of South Korea's Ssangyong Motor has threatened to abandon the ailing automaker if its union rejects restructuring, a senior MP said Tuesday. The threat from Shanghai Automotive Industry Corp. was conveyed at talks in parliament between Ssangyong's executives and legislators, Jeong Jang-Seon, head of a parliamentary committee, said in a statement. "We regard this as a v ... more Toyota projects first-ever operating loss 
Nagoya, Japan (AFP) Dec 22, 2008Toyota Motor Corp. on Monday forecast its first-ever operating loss this year as the global slowdown creates "an unprecedented crisis" for the long profitable automaker. Toyota's sharp cuts in forecasts marked a deepening of the woes plaguing the auto industry, which has seen General Motors and Chrysler, two of the US Big Three automakers, on the verge of collapse due to the global financial ... more SKorean automaker delays payroll as sales slump 
Seoul (AFP) Dec 22, 2008South Korea's Ssangyong Motor said Monday it would be unable to pay workers on time this month, as other local automakers announced fresh production cuts amid a slump in demand. Some 500 unionists protested outside the Ssangyong Motor plant after the firm, the country's smallest automaker, told staff it was impossible to pay salaries on time due to a lack of operating funds. A spokesman ... more Analysis: Auto bailout plan reached 
Washington DC (UPI) Dec 20, 2008The White House unveiled a $17.4 billion bailout plan for U.S. automakers Friday, eliciting sighs of relief from the companies, which are currently teetering on the brink of bankruptcy. "We appreciate the president extending a financial bridge at this most critical time for the U.S. auto industry and our nation's economy," said Greg Martin, General Motors spokesman. "This action helps ... more
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