A UK government spokesperson said today that Tata Motors has secured a 175 million pound ($289 million) private sector loan for Jaguar Land Rover and no longer needs financial support from Britain. The Department of Business, Enterprise and Regulatory Reform has been holding talks with Tata and Jaguar Land Rover on guaranteeing both short and long-term [...]
Following the launch of “Tell Fritz” on www.gmreinvention.com, in which customers can provide feedback to GM’s CEO, GM announced today the launch of “The Lab,” a microsite featuring future projects by GM”s Advanced Design team. Two future projects being worked on by GM’s design team are the Bare Necessity Car (branded as a Chevrolet) and [...]
The folks at Jay Leno’s Garage have just sent us a new video (actually a promo for his Jay Leno’s Garage website) of the gear-head doing burnouts in a number of fast cars including the McLaren SLR, Corvette ZR1, Shelby Cobra 427, SSC Ultimate Aero and Porsche GT2. We thought you’d like to see this [...]
Michael Schumacher has cancelled his much anticipated comeback to Formula One due to neck injuries from a motorcycling accident earlier this year. The 7-time world champion was scheduled to fill in for injured Ferrari driver Felipe Massa. Schumacher, 40, said that he informed Ferrari officials on Monday that he will not be able to step [...]
The brand new Lexus HS 250h, which just made its debut last month in Japan and the U.S., is selling like hot-cakes. According to Japan’s Nikkei, Toyota was targeting 500 sales per month, but has already received close to 9,000 orders. Toyota, which produced 2,000 units of the HS 250h in July, in now looking [...]
Seems like 25 is General Motors new lucky number. After announcing that the Chevrolet Volt will average 25 kilowatt hours per 100 miles in city driving (230 mpg), GM also confirmed that it plans to launch 25 new models by the end of 2011. CEO Fritz Henderson confirmed that a group of consumers and select [...]
North American investor Mark Bishop sold 22 percent of his stake in Koenigsegg, the luxury supercar automaker that plans to take the Saab brand off of GM’s hands. According to Swedish business daily Dagens Industri, Bishop had the second-largest stake in the company. “A new owner has taken over his shares and the negotiations between General [...]
GM’s CEO Fritz Henderson killed the ’230′ mystery today by announcing that the 2011 Chevrolet Volt plug-in extended-range electric-car will average a city fuel-economy of at least 230 miles per gallon. The figure is based on a draft EPA federal fuel-economy methodology for rating plug-in electric-vehicles. The new methodology being developed by the EPA weighs [...]
Station-wagons have become a hit with their respective target markets. Cadillac recently threw in their two cents into the segment with the new 2010 Cadillac CTS Sport Wagon and Mercedes-Benz recently unveiled the 2010 E-Class Estate. However, luxury Japanese automakers seem to want to stay away from the segment… until now. According to CARandDRIVER, Acura [...]
General Motors Company plans to sell shares in an initial public offering ahead of their one year anniversary of the company’s exit from bankruptcy. The automaker emerged from bankruptcy protection on July 10 and said in an SEC filing that they intended to make “reasonable best efforts” to start selling shares within a year of [...]
