Industry
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Riddled with debt, legendary Italian coachbuilder and design house Pininfarina has announced that it has reached a debt restructuring deal with its lenders that provides the firm with additional time to pay back its loans. Through a series of meetings with its lenders, Pininfarina has reached a new deal to prolong the repayment of its medium and long-term debt from the end of 2015 to the end of 2018. A final draft outlining all the terms is expected in the coming weeks and should be signed by the end of March. Importantly, the new deal would mean that the Pininfarina family will be able to...
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Mazda Asks, 'What Do You Drive?': VideoEmphasizing that it builds cars that are both fun and fuel-efficient, Mazda asks, "what do you drive" in its latest video.
Kurt Ernst -
Bentley Gets New Exterior Design BossBentley has some major product launches in the pipeline, such as its new SUV and eventual replacement for the Continental range. Possibly hinting at the scale of the work being done, the automaker today announced that it has hired acclaimed designer David Hilton as its new exterior design chief...
Viknesh Vijayenthiran -
Buick Announces Drivetrain Changes For 2012 Regal GS, 2013 RegalBuick is adding an automatic transmission to Regal GS models, and 2013 Regal Base and Premium trims will get the eAssist mild hybrid system.
Kurt Ernst -
Fisker DOE Loans Blocked, Work Stopped On Project Nina PlantFisker was forced to stop work on its plant in Delaware and lay off 26 employees after the Department of Energy blocked access to federal loans due to what it claims are several contractual milestones that are yet to be met by the Californian startup. The information was confirmed to Bloomberg...
Viknesh Vijayenthiran -
Renault Seeks Mercedes-Benz Technology For New FlagshipThe effects of Renault-Nissan’s recent tie-up with Daimler won’t just benefit Nissan and its upmarket Infiniti brand, according to latest comments from the French-Japanese duo's CEO Carlos Ghosn. While Nissan and Infiniti will be sharing whole platforms and engines with Daimler's...
Viknesh Vijayenthiran -
Sources close to the situation report that Saab's receivers are not interested in entertaining bids for the operation, preferring instead to sell off the remaining pieces.
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Studebaker May Be Rising From The Dead: ReportThe Studebaker Motor Company, located in Arvada, Colorado, has ambitious plans to revive the once-famous automotive brand.
Kurt Ernst -
Volkswagen Introduces Modular Transverse Matrix PlatformVolkswagen's new modular transverse matrix platform will allow it to build products as diverse as Polo hatchbacks and Passat sedans from a single platform.
Kurt Ernst -
Sweden Repays Saab's EIB Loan, Becomes Its Largest CreditorSweden has repaid Saab's loan from the European Investment Bank (EIB), becoming the automaker's largest creditor in the process.
Kurt Ernst -
Lotus CEO Bahar Seeking Buy-Out Partner: ReportConcerned that Proton will sell off Lotus, CEO Dany Bahar is actively seeking investment partners to buy out the Hethel-based automaker.
Kurt Ernst -
Bugatti Orders Two More Years Worth Of Veyron TransmissionsBugatti has ordered two more years worth of transmissions from Ricardo, the British engineering and motorsports firm that supplies the supercar manufacturer with advanced dual-clutch transmissions for all versions of the Veyron. This raises the all-important question: Where will the transmissions...
Viknesh Vijayenthiran -
To avoid confusion and help it stand apart in the increasingly competitive business of selling supercars, Shelby Supercars, or SSC for short, has agreed to drop the Shelby name from its official title and instead go with SSC only. SSC, as many readers may already know, was founded by a man who just so happens to share his last name with legendary American racing driver and Ford-tuner Carroll Shelby. However, now SCC’s founder, Jerod Shelby (pictured above), has officially dropped his name from his supercar business. In an official statement, Shelby said, “After several months of...
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Tata To Build Next Land Rover Defender In India: ReportTo reduce production cost and have a base of operations close to the key China market, Land Rover will reportedly build the next Defender in India.
Kurt Ernst -
Gordon Murray Design Forms Partnership With Japan’s TorayTwo leaders in the growing field of lightweight automotive engineering recently partnered for the development of a new electric sports car prototype. Called the Teewave AR.1, the carbon fiber infused electric sports car was the creation of the eponymous Gordon Murray Design, whose founder was one...
Viknesh Vijayenthiran -
Volvo Seeks Partner To Develop Future Small CarsAt the 2012 Geneva Motor Show this March Volvo will unveil the long-overdue five-door version of its C30 hatchback, though this is to be just one of several new small cars the automaker is hoping to launch in coming years. But launching a range of new small cars is costly, which is why Volvo is now...
Viknesh Vijayenthiran -
SARTRE self-driving car initiative enters final phaseThe days when you can sit back and enjoy reading the newspaper or eating your breakfast on the commute to work, behind the wheel of your car, has taken a major step closer to becoming reality with news today that the SARTRE project (Safe Road Trains for the Environment) has successfully completed...
Viknesh Vijayenthiran -
Saab Cars North America To Be LiquidatedFollowing the demise of Saab Automobile, its North American distribution company has been forced into liquidation.
Kurt Ernst -
Mercedes-Benz is looking to build new plants in China and in either Mexico or the U.S. as it forges ahead with plans to double its sales by the year 2020. The information was revealed by Dieter Zetsche, the CEO of Mercedes’ parent Daimler, during a recent interview with Germany’s Manager Magazin. Doubling Mercedes’ sales from the 1.26 million units sold in 2011 by the end of the decade is necessary for Mercedes to become the leading brand in the premium sector, explained Zetsche. But not only that, a 10 percent operating margin would also be needed to ensure Mercedes is also...
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Porsche Reaches Cayenne Milestone, Readies Plant For CajunPorsche's Leipzig plant has just produced its 100,000th
Kurt Ernst -
Turkish Private-Equity Firm Looking To Bid On Saab: ReportYesterday we brought you news that Chinese auto giant Youngman, one of the original bidders for Saab before it went bankrupt, was still interested in buying what’s left of the Swedish automaker. Now we have news that Turkish private-equity firm Brightwell is also interested in making a bid...
Viknesh Vijayenthiran -
Chrysler Builds Its One-Millionth Pentastar V-6In just two years, Chrysler has built one million Pentastar V-6 engines, now used in over 68 percent of domestic Chrysler vehicles.
Kurt Ernst -
Bosch hard at work on sparkless ignition HCCI engineA few years ago sparkless ignition or homogeneous charge compression ignition (HCCI) in gasoline engines was all the rage, with a number of major automakers including General Motors, Daimler and Volkswagen all investigating its benefits. Since then, not much has been heard of the technology whereas...
Viknesh Vijayenthiran -
Cadillac To Expand Overseas With More Right-Hand Drive ModelsCadillac will build future versions of its high-performance CTS-V in both left- and right-hand drive configurations.
Viknesh Vijayenthiran