Auto headlines- Sirius in a Dodge Challenger
July 26, 2007

GM plan to finish in '09

General Motors said it will finish a $6.7-billion investment in its South Korean unit in 2009 as it seeks to expand sales outside its home market.

The money for GM Daewoo Auto & Technology Co. will help pay for product development, unit Chief Executive Officer Michael Grimaldi told a meeting of the Detroit Society of Automotive Analysts on Tuesday, GM spokeswoman Geri Lama said.

JCI will split shares



Johnson Controls Inc., the world's largest maker of automotive batteries, said it will split its shares 3-for-1 on Oct. 2.

The split will go to shareholders of record as of Sept. 14, Johnson Controls said Wednesday. The company said it will pay its quarterly dividend of 33 cents at 11 cents a share after the split.

The split is a positive move and a "strong signal of where management sees its stock price heading," said Brian Johnson, an analyst at Lehman Brothers.

ArvinMeritor closing plant

ArvinMeritor Inc. said it will close its Commercial Vehicle Systems assembly plant in St. Thomas, Ontario, by Nov. 23.

ArvinMeritor said the facility employs 17 people and serves as an assembly site for drivelines. The work will be transferred to the company's Laurinburg, N.C., plant.

More Chryslers get Sirius

Sirius Satellite Radio Inc.'s installation rate in Chrysler cars will rise to 70% of 2008 car models from 40% in the previous model year.

Chrysler will make Sirius radios standard in vehicles such as the Dodge Challenger and the Jeep Grand Cherokee. It also will offer a free year of subscription to the satellite-based system.