Tony Posawatz is a familiar face in the green car world, having played a prominent and public role in the development of the Chevrolet Volt as the vehicle line director for GM's plug-in hybrid. Today, we learn that Posawatz – who retired from GM last month – will be spending even more time with an extended-range-powertrain vehicle, the Fisker Karma. This is because Posawatz was just named the new CEO of Fisker, replacing Tom LaSorda, who has only been in that position since February.
Tony Posawatz is a familiar face in the green car world, having played a prominent and public role in the development of the Chevrolet Volt as the vehicle line director for GM's plug-in hybrid. Today, we learn that Posawatz – who retired from GM last month – will be spending even more time with an extended range powertrain vehicle, the Fisker Karma. This is because Posawatz was just named the new CEO of Fisker, replacing Tom LaSorda, who has only been in that position since February.
Starting a new automaker from scratch is no easy feat. Henrik Fisker is a visionary designer, but to get his Karma luxury hybrid on the road, he knew he'd need a good management team behind him. So he brought in BMW and Ford native Bernhard Koehler as Chief Operating Officer, General Motors number cruncher Joe DaMour as Chief Financial Officer and former Jaguar marketing chief Richard Beattie as the company's new Chief Commercial Officer. And now Fisker Automotive has added another name to the r
With Chrysler's cash dropping to $2.5 billion as we race to the end of the month, suppliers to the automaker have begun asking for immediate payment for delivered parts. When suppliers demand COD from struggling companies such as Chrysler LLC instead of extending payment terms, it wreaks havoc with the company's financial structure. Chief Financial Officer Ron Kolka and Vice Chairman Tom LaSorda told the Associated Press that the company is "fending them off." In order to work out a viable agree
For Chrysler, the future is looking green(er). Company vice chairman Tom LaSorda recently announced a bunch of new fuel-efficient offerings. In 2010, an unibody Jeep Grand Cherokee will be introduced that will be mated to a new V6 fuel efficient engine. The automaker plans to spend $1.8 billion to refit its Jefferson North (Detroit) Assembly Plant to produce this Grand Cherokee (2008 model pictured above) and other products off the same platform, which was initially co-developed with Mercedes. L
Cerberus Capital Management shot off a nine-page letter to investors outlining ways that Chrysler could sink, while also pointing out that they believe Chrysler's on the track for success. Some of the possible failure scenarios include a nasty recession, an extreme slowdown in the car market, or a further credit downturn. Credit is already looking green around the gills, and the potential for a widespread domino effect that starts with an implosion of the teetering mortgage business would be cat
Chrysler has been through more changes in the past six months than any automaker in recent memory, and the announcement of former Home Depot CEO Bob Nardelli as Chrysler's head honcho is just another sign that the auto business in Detroit is rapidly changing. Nardelli was booted unceremoniously at America's home improvement store due to poor stock performance and an outlandish executive salary. He has no automotive experience, but he's the guy Cerberus wanted to lead Chrysler now and in the futu
As Chrysler spends nearly $2.3bil on health care costs per year, about $8K per worker, it was evident at the top level that changes to the system would have to be made. Those changes were announced yesterday and involve a sliding scale of out-of-pocket premium increases that’s based on each salaried employees pay level.