Last week, MEMA reported that competitive solicitation for up to $2 billion in federal funding manufacturing of advanced batteries and related drive components was opened for applications. Separate funding for transportation electrification – $400 million – was also launched. The funding was part of the recently passed American Recovery and Reinvestment Act. The deadline for the battery and component manufacturing grant is May 19, 2009; the transportation electrification grant is May 13, 2009.
Company Cites Concern over EFCA Unionizing Bill
FedEx Corp. said it may not go through with a $7.7 billion purchase of 30 new jet planes for air freight if federal law is changed to make it easier for its employees to join a union, Bloomberg reported.
The company in January exercised an option to buy 15 Boeing 777 planes over the next 10 years and said in regulatory filing Friday that it obtained another option for an additional 15, Bloomberg said
The new Auto Supplier Support Program announced last week by the U.S. Department of the Treasury will provide up to $5 billion in financing to vehicle parts manufacturers, “giving suppliers the confidence they need to continue shipping parts, pay their employees and continue their operations,” according to the government agency.
Reacting to the announcement, MEMA President Bob McKenna said, “This is a tremendous step toward stabilizing the supply base, which will benefit the domestic automotive manufacturing industry.”
Caterpillar Inc. said Tuesday it will lay off more than 2,400 employees at five plants in three states as the heavy equipment maker continues to cut costs amid the economic downturn, the Associated Press reported.
The reductions will be at plants in Illinois, Indiana and Georgia. Caterpillar said in January that it will ultimately eliminate 20,000 positions worldwide.
Smith Electric Vehicles plans to assemble all-electric zero-emission commercial vehicles in Kansas City, Mo.
The new assembly plant will be located at a portion of an airline overhaul base at Kansas City International (KCI) Airport. Production of the first zero-emission commercial trucks is scheduled to begin third quarter of 2009.
Smith will initially focus its production on battery-electric-powered vehicles for depot-based predictable-route delivery fleets.
Truck tonnage in February dropped 9.2 percent from year-ago levels, but inched up 1.7 percent from the low totals in January, American Trucking Associations reported last week.
That news, coupled with improvement in a few other economic in-dicators, inspired some business executives and economists to ponder whether the economy and freight volumes have hit bottom.