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General Motors partners with battery supplier LG on electric vehicles

General Motors said Thursday that it is partnering with its battery cell supplier, LG Group, to develop electric vehicles. The agreement, signed Wednesday by GM CEO Dan Akerson and LG President Juno Cho, will “help GM expand the number and types of electric vehicles it makes and sells,” the automaker said in a statement. It's the second example this week of automakers looking for partners to help in developing more fuel-efficient cars, as U.S.

First 2014 Cadillac ELR rolls off the line

IndyCar driver Simona De Silvestro christened the first 2014 Cadillac ELR to roll off the line at the Detroit-Hamtramck plant in Michigan on Wednesday. The Volt-based electric-gas hybrid will go on sale next year. We assume De Silvestro is in town for the Chevrolet Indy Duel in Detroit, two races at Belle Isle scheduled for this weekend.

Saab secures more funds as it seeks to avert collapse

Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'.  Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.