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GM to sink over $900M into 4 plants, mostly for a new V8

FLINT, Mich. — General Motors says it will spend more than $900 million to update four factories, with the bulk going to an engine plant in Flint, Michigan, to build the next-generation V8 for big pickup trucks and SUVs. Factories in Rochester, New York; Defiance, Ohio; and Bay City, Michigan, also will see investments, some to make V8 engine components as well as parts for future electric vehicles, the company said Friday. The investments won't create any new jobs, but they will preserve about 2,400 hourly and salaried positions positions at the four sites, the company said. The investments “provide job security at these plants for years to come,” Gerald Johnson, GM's manufacturing chief, said in a statement. Much of the money, $579 million, will go to Flint Engine Operations for equipment to build the sixth-generation small-block V8 that will go into the next round of big pickup trucks and SUVs. The plant now employs about 700 people who also will keep making their current product, a diesel engine used in light trucks. GM, like other automakers, is facing stricter government fuel economy standards and pollution limits starting in the 2024 model year. New vehicles sold in the U.S. will have to average at least 40 miles per gallon of gasoline in 2026, up from about 28 mpg, under new Biden administration rules that undo a rollback of standards enacted under former President Donald Trump. That means the new V8 will have to get better mileage and pollute less than the current versions. Although GM wouldn't release details on the new engine, Johnson said during a news conference at the Flint plant that it would be more efficient than the current version. GM has a goal of selling only electric passenger vehicles by 2035, but Johnson said that's a dozen years out, a period when many customers will still want gas engines. “We know that has a horizon,” he said. “Between here and there, there are a lot of internal combustion customers that we don't want to lose,” he said. In addition to Flint, GM's engine components plant in Bay City, Michigan, will get $216 million to build camshafts and connecting rods, and to machine engine blocks and heads for the new V8 being built in Flint. The plant now employs about 425. The Defiance, Ohio, foundry will get $55 million to build a variety of block castings for the new V8. Included is $8 million for castings to support future electric vehicles, the company said. The plant has about 530 employees.

2018 Hyundai Accent vs subcompact sedans: How it compares on paper

Hyundai first revealed the new 2018 Hyundai Accent a few months ago, but that debut was in Canada for the Canadian-market car. We didn't get our look at the U.S. version until just recently, which is when we also finally got plenty of specifications on the little car. So as we did with the Genesis G70, we've brought you a breakdown of the Accent's specs and some of the segment's best and most popular: the Nissan Versa, Kia Rio, Chevrolet Sonic and Toyota Yaris iA. Before we get to the chart, let's give you a quick reintroduction to the 2018 Accent. The subcompact is completely new this year, and under the hood is again a naturally aspirated 1.6-liter four-cylinder engine. It makes 7 fewer horsepower and 4 fewer pound-feet of torque than the outgoing model with totals of 130 horsepower and 119 pound-feet. This drop in power probably won't be noticeable, though. It's also available with either a manual or automatic transmission, both featuring six speeds. Fuel economy hasn't been announced, but the Rio's numbers below are probably a good indicator as they share powertrains. The one thing that isn't available with an Accent is a hatchback. According to Autoweek, the hatchback was canned with the assumption that hatch buyers would simply purchase an example of the upcoming Kona crossover. But if you want a traditional subcompact hatch from South Korea, Kia is happy to oblige, as the Rio is still available as a hatchback. Learning that the Kona may have killed the Accent hatch causes us to wonder if Kia brought the Rio hatch to the U.S. because it wasn't planning on offering the Stonic. Related Video: News Source: Hyundai, AutoweekImage Credit: Hyundai Chevrolet Hyundai Kia Nissan Toyota Sedan nissan versa hyundai accent kia rio toyota yaris ia

Survey says $25k barrier is a problem for EVs

The majority of consumers are more or less priced out of the market.
Electric cars are gaining popularity with the general public, but are they still too expensive? According to a survey 1,084 consumers by Navigant Research, a consulting firm located in Boulder, CO, 71 percent want their next car to cost under $25,000, while 41 percent won't go a cent above $20K. Looks like people are even thriftier than we'd originally thought.