Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. The Palo Alto, Calif., company said it wired in a $451.8 million payment to the government on Wednesday. The money, coupled with two prior payments, paid off a $465 million loan Tesla got from the Department of Energy loan in 2010 to foster development of advanced-technology vehicles.
Ford Motor Co. said Thursday it will close its two Australian auto plants, ending production in the country in 2016, amid soaring manufacturing costs and plummeting sales. The closure of the U.S. automaker's plants in the state of Victoria will mean the loss of 1,200 jobs and will transform the company into an import-only brand in Australia.
General Motors Co. says the Spark EV subcompact will be among the lowest-priced electric cars in the U.S. The electric Spark will have a starting price of $27,495 when it goes on sale next month in California and Oregon. GM also is offering a low-mileage lease for $199 per month, with $999 due when the lease is signed.
General Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off. The company says the recall affects the 2013 Cadillac SRX with 18-inch wheels. Canadian safety regulators say the wheel nuts may not have been tightened enough at the factory.
A survey shows China's manufacturing contracted this month, adding to signs a fragile recovery in the world's No. 2 economy is slowing. HSBC Corp. said Thursday the preliminary version of its monthly purchasing managers index fell to a seven-month low of 49.6 from April's 50.4 on a 100-point scale. Numbers below 50 show a contraction.
The State Fire Marshal's Office says a federal safety panel's investigators had access to the site of a Texas fertilizer plant blast that killed 15 people and injured about 200 others. The chairman of the U.S. Chemical Safety Board had asked for congressional help in obtaining evidence under the control of the state agency and the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives.
Project management is particularly effective in a manufacturing environment, considering the number of variables involved such as maintenance schedules and projects, run times, and quality control. But if you're like a lot of manufacturers, project management is really a five-letter word.
Dell and Intel experts discuss where cloud computing began, where it is now, and what quantitative and qualitative results it can bring to your enterprise. Smaller companies generally choose to start off with a public cloud, but as they grow, they bring those functions back in-house and create their own private cloud. Watch to learn more.
Mike Rowe discusses what he learned working at QVC, his grandfather's influence, and what "Dirty Jobs" accomplished. From selling lava lamps to hosting the hit "Dirty Jobs," Rowe talks about a necessary skill that allowed him to work in Hollywood.
The Ram 1500 combines great looks with fuel efficiency, air suspension, and real truck performance, reports CNN Money's Senior Writer Peter Valdes-Dapena. With nice looks both inside and out, the Ram 1500 also offers a fuel-saving eight speed transmission.
The cheetah is not only the world's fastest land animal, it is also one of the most energy efficient, expending only what it needs to survive. It's that efficiency that engineers at MIT are working to emulate in a robotic cheetah, already clocked as the second fastest robot ever developed.
Project management is particularly effective in a manufacturing environment, considering the number of variables involved such as maintenance schedules and projects, run times, and quality control.
European Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations' tax avoidance schemes. European officials say tax fraud costs the 27-nation bloc an estimated 1 trillion euros ($1.3 trillion) a year at a time when much of the region is in recession and governments are forced to tighten their budgets.
Milan prosecutors have ordered the seizure of 1.2 billion euros ($1.5 billion) in assets belonging to the family that runs a troubled steel plant in southern Italy. Prosecutors allege in the order Wednesday that the real estate, stocks and other financial assets belonging to the Riva family were obtained through the misuse of funds belonging to the Ilva steel plant.
North Carolina lawmakers and passersby stopped to take in a display of Tesla Motors' award-winning electric cars Wednesday as the company presses against a bill in the General Assembly that effectively outlaws Tesla's Internet-based sales model.
A second yogurt plant is about to open in a Genesee County business park. Sen. Charles Schumer says the Muller Quaker Dairy plant will have a grand opening on June 3. The $206 million dollar plant is a joint venture of PepsiCo and Germany's Theo Muller company.
Boeing may accelerate production of two of its most popular planes — the 787 and the 737. It's already doubling 787 production, from 5 per month last year, on its way toward 10 per month by the end of this year. The efficiency of the 787, Boeing's newest plane, has made it very popular with airlines. The company has orders for more than 800 that it hasn't built yet.
Dozens of Indian guest workers are suing an Alabama-based marine and fabrication company, claiming it financially exploited them and forced them to live in squalid conditions after bringing them to work at Gulf Coast shipyards after Hurricane Katrina.
Apple CEO Tim Cook states to a Senate panel Tuesday that under the current U.S. corporate tax code, he has no plans to transfer $100 billion in company profits to the U.S. from overseas. Some analysts think this might push congress to make some changes in corporate tax code.
Sharing information, driving innovation in manufacturing and preparing an advanced manufacturing workforce will be the focus of the 2013 Society of Manufacturing Engineers Annual Conference to be held June 2-4, 2013, at the Renaissance Baltimore Harborplace Hotel in Baltimore, Md.