Motors Liquidation Company announces that GM has made its first mass-produced electric car battery as it gears up to sell the new Chevrolet Volt to the general public later this year. Production is expected to begin in the fourth quarter.
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Motors Liquidation Company and its subsidiaries completed the sale of substantially all of their assets to General Motors Company on July 10, 2009. Previously, the company was primarily engaged in the design, manufacture, and marketing of cars and light trucks worldwide. It was formerly known as General Motors Corporation and changed its name to Motors Liquidation Company in July 2009 in connection with the sale of substantially all of its assets pursuant to Section 363(b) of the Bankruptcy Code and the Bankruptcy Court’s sale order dated July 5, 2009. The company was founded in 1908 and is headquartered in Detroit, Michigan. On June 1, 2009, General Motors Corporation, along with its affiliate, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of New York.
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