FRITZ Henderson, the new chief executive of General Motors (GM), says his company has to reinvent itself very quickly. US President Barack Obama exhorts American carmakers to regain the lead and make fuel-efficient vehicles. Washington provides US$2.4 billion to develop advanced electric-powered vehicles and a better battery. And Michigan gives tax incentives of half a billion dollars, including US$200 million for advanced batteries, to invigorate the auto capital.
Will all this spark an auto revolution in the United States? For GM, the situation has to be bittersweet, after stopping production of…Â Details