General Motors
The infrastructure of charging stations for electric cars are set to be laid in January, said Engineer Salma Hussein, Head of the Licensing Sector at the Electricity Utility and Consumer Protection Regulatory Authority.
Egypt is at an inflection point with entrepreneurship and energy preparing the country for a technology-based future, Steven Kiefer, President of General Motors, has said.
Mansour said that according to a memorandum signed on Wednesday, the two companies will study production requirements and volumes and the incentives they may need from the government, without specifying what form those incentives may take, according to Reuters.
U.S. President Donald Trump told GM last week that the company had “better” find a new vehicle to build at the plant in Ohio, which could be crucial to his re-election chances in 2020.
“The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including ... for electric cars,” Trump said on Twitter.
GM shares jumped more than 8 percent to $36.34, their highest in almost six weeks.
The recall includes cars produced between 2013 and 2018, the State Administration for Market Regulation said in a statement.
The redesign of the Ford F-series trucks, launched in 2014, set a new standard for fuel economy and lightweight vehicle construction.
Earlier this month GM agreed on the bailout package with the South Korean government in return for a pledge to stay in the country for at least 10 years.
GM Korea averted bankruptcy on Monday after striking a last-minute wage deal with its labor union.
GM proposed in February an investment of $2.8 billion into its loss-making South Korean operations over 10 years, days after announcing a sweeping overhaul.
GM will also no longer report monthly sales in China, its largest market, and Brazil.
The U.S. automaker announced in February it would shut down one of its four factories in South Korea, and asked for government support and union concessions to stay in South Korea.
South Korea began doing due diligence on GM Korea to decide whether to extend financial support to the loss-making operations of GM,.
A GM Korea spokesman confirmed the plan, noting that the unit had around 150 executives and hundreds of team leaders.
The plan comes as the Detroit carmaker and the South Korean government discuss restructuring options at loss-making GM Korea, one of GM’s largest offshore operations.
General Motors has offered to convert debt of around $2.2 billion owed by its ailing South Korean operation into equity.
Workers at a General Motors plant in South Korea that the U.S. automaker plans to close staged a protest on Wednesday, calling the decision a “death sentence” and threatening a strike.
General Motors Co said on Friday it reached a tentative labor agreement with striking workers at its CAMI plant in Canada.
Plaintiffs suing General Motors over faulty ignition switches and other alleged vehicle defects have reached a $1 billion settlement requiring the automaker to turn over.
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