High Occupancy Toll lanes are a huge trend in urban highway transportation. Drivers pay extra to use the special lanes, and while some believe that all roads should be free, others feel that the option to pay for a quicker commute should be available.
Hybrid-electric and electric vehicles need advanced battery packs, but the US lacks any large-scale production plant lithium-ion batteries. Michigan passed tax credits worth up to $335M to encourage research and production on li-ion batteries in the state.
Avis is cutting jobs, closing off-airport locations, reducing fleet size, and restructuring depts to cut costs. It acquired $2.45B in extended financing which will permit it to buy replacement vehicles through a deal with GM.
Automotive Finance Corporation (AFC) has named Don Gottwald as President and CEO. Gottwald most recently served as EVP of Dealer Business for HSBC Auto Finance. In this role, he was instrumental in the strategic leadership of the company's originations, marketing, sales, product management, pricing and analytics, responsible for servicing 8,000 commercial customers.
