Auto News Highlights: Tesla Motors Inc (TSLA) Elon Musk’s Trip, General Motors Company (GM)’s New Recall, Ford Motor Company (F)’s Alan Mulally

Editor’s Note: Tesla Motors Inc (NASDAQ:TSLA), General Motors Company (NYSE:GM), Ford Motor Company (NYSE:F)

Elon Musk Readies Cross-Country Tesla Model S Trip, Says He’ll Only Need to Charge for 9 Hours (WebProNews)
Back in May, Tesla CEO Elon Musk announced that he was preparing a coast-to-coast trip across the United States in a Tesla Model S, one that would utilize Tesla Motors Inc (NASDAQ:TSLA)’s various Supercharger stations that have been strategically placed across the country to accommodate such trips. Now, that trip is about to get underway. Musk says that he will only need to charge his car for about an hour and a half a day. He’ll be accompanied on the trip by his 5 sons, and will begin in Los Angeles and end in New York. Every other stop on the trip has been strategically picked to be near a Supercharger station.

Will Tesla Motors Inc (TSLA) CEO make Ford Motor Company (F) CEO Jealous with this Payout?

GM Recalls 4K Cars in India (
The automobile market is witnessing a series of recalls and the latest to join the list is General Motors Company (NYSE:GM), which is recalling the diesel version of Chevrolet Sail. The automaker is recalling 4,000 vehicles in India to fix a faulty engine part. General Motors will be recalling 2,910 compact cars and 1,090 subcompact hatchback units of Chevrolet Sail. The automaker will repair a fault in the crankshaft hub bolt, which could adversely affect the engine’s performance.

Ford’s Mulally Says He’ll Stay CEO At Least Through 2014 (Bloomberg)
Ford Motor Company (NYSE:F) Chief Executive Officer Alan Mulally said he intends to stay as head of the second-biggest U.S. carmaker through next year, following reports that Microsoft Corp. may seek to recruit him. “I plan to continue to serve as Ford’s president and CEO until at least the end of 2014,” to remain “absolutely laser focused” on earnings growth, Mulally wrote in an e-mail to Bloomberg News today. “I love serving Ford Motor Company (NYSE:F) and will continue serving Ford,” Mulally said in an interview from Berlin with Anna Edwards on Bloomberg Television’s “Countdown.”

Tesla Had to Repay Its Dept of Energy Loan to Avoid Default (Somewhat Reasonable – Heartland Institute)
When it comes to Tesla Motors Inc (NASDAQ:TSLA), an irrational exuberance has overtaken Wall Street, the Department of Energy, electric car advocates, government interventionists, crony capitalists, techie nerds and Elon Musk fanboys everywhere. The praise comes rapid fire: $20 billion market capitalization! It’s worth more than Chrysler! Its stock price is at $169! They’ve had two consecutive profitable quarters! They paid back their government loan early! The Model S is the safest car of all time! Consumer Reports says it’s almost perfect! Its batteries don’t burn up!

GM’s $400 million investment In Western NY Will Produce the Gen 5 Block Engine (Autochannel)
Some of General Motors Company (NYSE:GM)’s advanced manufacturing techniques to produce the all-new, Gen 5 Small Block engine family are microscopic, but they have a huge impact on the 75-year-old Tonawanda Engine Plant, where about 1,500 jobs have been created and retained since 2009. As a result of GM’s $400 million investment, Tonawanda will eventually produce four versions of the Gen 5 Small Block – a 4.3L V-6, 5.3L V-8 and two variants of a 6.2L V-8. When the plant is at full production, it will produce more than 1,000 engines daily. The new family of engines will power nine General Motors Company (NYSE:GM) models by 2015, starting with the all-new 2014 Chevrolet Silverado and GMC Sierra pickups, and the all-new 2014 Chevrolet Corvette Stingray.