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GM delays work on Volt, Cruze engine factory to save cash
December 17, 2008 - 2:13 pm ET
DETROIT -- General Motors, saving cash as it awaits federal rescue loans, has suspended construction of a Michigan plant scheduled to build fuel-saving engines. The delay at the $349 million factory in Flint won't affect the late-2010 launch of the Chevrolet Cruze small car and the Chevy Volt plug-in hybrid, spokeswoman Sharon Basel said today. CEO Rick Wagoner announced the plant on Sept. 25th and said it would produce two versions of a 1.4-liter four-cylinder engine, one with a turbocharger for the Volt and one without for the Cruze. The delay reflects GM's heightened efforts to reduce spending as its supplies of cash dwindle. GM is waiting for the White House to approve a bailout that will keep the automaker operating and avoid a Chapter 11 bankruptcy filing. The postponement will allow GM to halt payments for construction materials, Basel said. "Steel has been ordered but placed on hold, as have additional orders,'' she said. "This has only to do with the construction of the plant, not the program timing. She said there is enough leeway in the construction schedule for it to build the engines on time after the temporary hold. She did not say when the work would resume. She said the Flint factory is being built with a common template used around the world. The plant can be assembled in less than a year, she said. The 552,000-square-foot facility will be able to build 800 engines a day. Another $21 million is being spent for a vendor tool area. GM already builds a nonturbocharged version of the engine for its European small cars. Basel said GM has no plans to import those powerplants from Europe if the U.S. project ends up behind schedule. The delay was reported earlier by the Flint Journal. |
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#2
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GM delays work on Volt, Cruze engine factory to save cash
I saw an announcement today that Toyota is suspending the plan to produce
the Prius in the US because of plummeting sales and tight credit. It's pretty widespread. -- Skip Middleton www.shadowcatcherimagery.com www.pbase.com/skipm "rob" > wrote in message g.com... > December 17, 2008 - 2:13 pm ET > > DETROIT -- General Motors, saving cash as it awaits federal rescue loans, > has suspended construction of a Michigan plant scheduled to build > fuel-saving engines. > > The delay at the $349 million factory in Flint won't affect the late-2010 > launch of the Chevrolet Cruze small car and the Chevy Volt plug-in hybrid, > spokeswoman Sharon Basel said today. > > CEO Rick Wagoner announced the plant on Sept. 25th and said it would > produce two versions of a 1.4-liter four-cylinder engine, one with a > turbocharger for the Volt and one without for the Cruze. > > The delay reflects GM's heightened efforts to reduce spending as its > supplies of cash dwindle. GM is waiting for the White House to approve a > bailout that will keep the automaker operating and avoid a Chapter 11 > bankruptcy filing. > > The postponement will allow GM to halt payments for construction > materials, Basel said. > > "Steel has been ordered but placed on hold, as have additional orders,'' > she said. "This has only to do with the construction of the plant, not the > program timing. > > She said there is enough leeway in the construction schedule for it to > build the engines on time after the temporary hold. She did not say when > the work would resume. > > She said the Flint factory is being built with a common template used > around the world. The plant can be assembled in less than a year, she > said. > > The 552,000-square-foot facility will be able to build 800 engines a day. > Another $21 million is being spent for a vendor tool area. > > GM already builds a nonturbocharged version of the engine for its European > small cars. Basel said GM has no plans to import those powerplants from > Europe if the U.S. project ends up behind schedule. > > The delay was reported earlier by the Flint Journal. > > |
#3
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GM delays work on Volt, Cruze engine factory to save cash
yeah the article i read i posted a little earlier too.
"Skip" > wrote in message ... >I saw an announcement today that Toyota is suspending the plan to produce >the Prius in the US because of plummeting sales and tight credit. It's >pretty widespread. > > -- > Skip Middleton > www.shadowcatcherimagery.com > www.pbase.com/skipm > "rob" > wrote in message > g.com... >> December 17, 2008 - 2:13 pm ET >> >> DETROIT -- General Motors, saving cash as it awaits federal rescue loans, >> has suspended construction of a Michigan plant scheduled to build >> fuel-saving engines. >> >> The delay at the $349 million factory in Flint won't affect the late-2010 >> launch of the Chevrolet Cruze small car and the Chevy Volt plug-in >> hybrid, spokeswoman Sharon Basel said today. >> >> CEO Rick Wagoner announced the plant on Sept. 25th and said it would >> produce two versions of a 1.4-liter four-cylinder engine, one with a >> turbocharger for the Volt and one without for the Cruze. >> >> The delay reflects GM's heightened efforts to reduce spending as its >> supplies of cash dwindle. GM is waiting for the White House to approve a >> bailout that will keep the automaker operating and avoid a Chapter 11 >> bankruptcy filing. >> >> The postponement will allow GM to halt payments for construction >> materials, Basel said. >> >> "Steel has been ordered but placed on hold, as have additional orders,'' >> she said. "This has only to do with the construction of the plant, not >> the program timing. >> >> She said there is enough leeway in the construction schedule for it to >> build the engines on time after the temporary hold. She did not say when >> the work would resume. >> >> She said the Flint factory is being built with a common template used >> around the world. The plant can be assembled in less than a year, she >> said. >> >> The 552,000-square-foot facility will be able to build 800 engines a day. >> Another $21 million is being spent for a vendor tool area. >> >> GM already builds a nonturbocharged version of the engine for its >> European small cars. Basel said GM has no plans to import those >> powerplants from Europe if the U.S. project ends up behind schedule. >> >> The delay was reported earlier by the Flint Journal. >> >> > > |
#4
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GM delays work on Volt, Cruze engine factory to save cash
Yep, just noticed that one, too. One thing I don't think people realize is
that if the big two and a half go under, they take a lot of things down on other countries. What happens if Ford and GM close Holden, Opel, Vauxhall, Volvo, Saab, Ford of Europe, Ford and GM of Mexico, Canada and Brazil, et al plus Chrysler Mexico, Canada and Brazil? Then add in Daewoo, Suzuki, Mazda and the other associated Asian brands. That could be a world wide disaster. -- Skip Middleton www.shadowcatcherimagery.com www.pbase.com/skipm "rob" > wrote in message g.com... > yeah the article i read i posted a little earlier too. > > > "Skip" > wrote in message > ... >>I saw an announcement today that Toyota is suspending the plan to produce >>the Prius in the US because of plummeting sales and tight credit. It's >>pretty widespread. >> >> -- >> Skip Middleton >> www.shadowcatcherimagery.com >> www.pbase.com/skipm >> "rob" > wrote in message >> g.com... >>> December 17, 2008 - 2:13 pm ET >>> >>> DETROIT -- General Motors, saving cash as it awaits federal rescue >>> loans, has suspended construction of a Michigan plant scheduled to build >>> fuel-saving engines. >>> >>> The delay at the $349 million factory in Flint won't affect the >>> late-2010 launch of the Chevrolet Cruze small car and the Chevy Volt >>> plug-in hybrid, spokeswoman Sharon Basel said today. >>> >>> CEO Rick Wagoner announced the plant on Sept. 25th and said it would >>> produce two versions of a 1.4-liter four-cylinder engine, one with a >>> turbocharger for the Volt and one without for the Cruze. >>> >>> The delay reflects GM's heightened efforts to reduce spending as its >>> supplies of cash dwindle. GM is waiting for the White House to approve a >>> bailout that will keep the automaker operating and avoid a Chapter 11 >>> bankruptcy filing. >>> >>> The postponement will allow GM to halt payments for construction >>> materials, Basel said. >>> >>> "Steel has been ordered but placed on hold, as have additional orders,'' >>> she said. "This has only to do with the construction of the plant, not >>> the program timing. >>> >>> She said there is enough leeway in the construction schedule for it to >>> build the engines on time after the temporary hold. She did not say when >>> the work would resume. >>> >>> She said the Flint factory is being built with a common template used >>> around the world. The plant can be assembled in less than a year, she >>> said. >>> >>> The 552,000-square-foot facility will be able to build 800 engines a >>> day. Another $21 million is being spent for a vendor tool area. >>> >>> GM already builds a nonturbocharged version of the engine for its >>> European small cars. Basel said GM has no plans to import those >>> powerplants from Europe if the U.S. project ends up behind schedule. >>> >>> The delay was reported earlier by the Flint Journal. >>> >>> >> >> > > |
#5
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GM delays work on Volt, Cruze engine factory to save cash
Skip added these comments in the current discussion du jour ...
> Yep, just noticed that one, too. One thing I don't think > people realize is that if the big two and a half go under, > they take a lot of things down on other countries. What > happens if Ford and GM close Holden, Opel, Vauxhall, Volvo, > Saab, Ford of Europe, Ford and GM of Mexico, Canada and > Brazil, et al plus Chrysler Mexico, Canada and Brazil? Then > add in Daewoo, Suzuki, Mazda and the other associated Asian > brands. That could be a world wide disaster. > Beyond just GM, Ford, and Chrysler per se, the Japs, Koreans, Germans, and everybody else who builds cars in the United States or Canada pretty much uses the same set of Tier 1 suppliers, and often go all the way to at least Tier 3. Toyota, Nissan, Honda, BMW, Mercedes-Benz and others have come out in support of the bridge loans for the Detroit Three by noting that they fear loss of THEIR key suppliers should one or more of the American companies go out- of-business so suddenly as to knock down suppliers domino fasion. And, note that in November when Ford was down 31%, GM down 41% and Chrysler down $7%, Honda was about like Ford, Toyota like GM, and Nissan like Chrysler - ALL down in significant double-digits. The Asians and Germans are hardly immune so it isn't a matter of stupidity as many claim. -- HP, aka Jerry "Gentleman, you can't fight in here, this the War Room!" – President Merkin Muffley, in the movie 'Dr. Strangelove or How I Learned to Stop Worrying and Love the Bomb' |
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