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GM Confirms Plans to Discontinue Buick Verano in the U.S.
5/27/2016General Motors Co. confirms previous reports that its Orion factory outside Detroit will stop making the Buick Verano small sedan in October as the brand shifts focus to hot-selling SUV/crossover vehicles.
Japan Orders Recall for 7 Million Takata Airbag Inflators
5/27/2016Japan’s transport ministry has ordered carmakers to add 7 million vehicles to existing recalls to replace Takata Corp. airbag inflators.
Ohio State Students Win 2nd Year of EcoCar Competition
5/27/2016A team from Ohio State University has won this year's phase of the four-year EcoCar 3 competition with a plug-in hybrid version of the 2016 Chevrolet Camaro.
Carmakers Add 12 Million Vehicles to U.S. Takata Recalls
5/27/2016Eight carmakers have announced new or expanded recalls in the U.S. and its territories to replace another 12 million Takata Corp. airbag inflators that could misfire.
U.S. Virgin Islands Sues Takata, Honda Over Airbag Inflators
5/27/2016The U.S. Virgin Islands has sued Takata Corp. and Honda Motor Co., claiming the companies were negligent and committed fraud by selling airbags with inflators that could explode, Reuters reports.
China Moves to Further Control Global Cobalt Supply for Batteries
5/27/2016China appears close to hiking its share of the global market for refined cobalt—a key ingredient in batteries for electric cars—above 60%, The Financial Times reports.
GM Arranges $14.5 Billion in Revolving Credit
5/26/2016General Motors Co. says it has completed an unsecured $14.5 billion revolving credit facility with 44 financial institutions in 13 countries.
Oil Futures Top $50 For First Time in 2016
5/26/2016The price of crude oil has topped $50 per barrel for the first time this year, aided by supply disruptions and increasing energy demand caused by general economic growth.
Report Says KKR Has Offered to Buy 60% of Takata
5/26/2016New York City-based private equity firm KKR & Co. has offered to buy about 60% of Takata Corp. and restructure the troubled airbag supplier, sources tell The Nikkei.
GM Will Recall 2.2 Million Cars in China
5/26/2016General Motors Co. is preparing to recall nearly 2.2 million vehicles in China to replace an engine pressure regulator that may fail.