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Maserati recalls 7,438 vehicles
DETROIT, June 23 (UPI) -- Adapting newer technologies will force U.S. and other automakers to form partnerships, the chief executive officer of Nissan Motor Co. and Renault SA said.
CEO Carlos Ghosn said, "We can't say what the prevailing technology will be."
As such, he said, "No one with volumes under eight or nine million vehicles (per year) can afford to develop them all and that will drive a new round of consolidation."
Some consolidation has already occurred, The Detroit News reported Wednesday.
Two months ago Renault-Nissan and Germany's Daimler AG said they would share technology on conventional engines and develop batteries for electrically powered cars, and Toyota Motor Corp. is joining forces with Tesla Motors Inc. to develop an electric vehicle, the newspaper said.
The need to save costs is at least implied by expensive price tags for advanced power systems. Batteries for an all-electric performance vehicle currently cost up to $50,000. A transmission for a hybrid can cost three times that of a conventional transmission, the newspaper said.
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MOSCOW, May 24 (UPI) --
Russia's decision to suspend its use of an Azerbaijani oil pipeline isn't the result of political tensions, Foreign Minister Sergei Lavrov says.
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MANILA, May 24 (UPI) --
The Philippines is determined to spend $1.8 billion on military upgrades -- mostly naval -- to protect the country against "bullies" in its territorial waters.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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