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Fisker about to be bought by Volvo’s Chinese owner Geely?
Mon, 18 Feb 2013It’s reported that China’s Geely – which bought Volvo from Ford – is about to take a majority stake in Fisker Automotive. But Fisker has run in to big problems when its battery supplier - A123 Systems – went bust leading to Fisker production grinding to a halt. That has now been resolved with China’s Wanxiang Group buying up A123 Systems and it looks like Fisker is heading East too with Geely set to grab a majority shareholding.
VW halts merger talk with Porsche
Mon, 18 May 2009Volkswagen on Sunday slammed the brakes on merger talks with Porsche, just before the first meeting to discuss ways to bring all of the automakers' brands together under one entity. VW said that it made the move because it believes that Porsche doesn't have a solid plan for the merger. VW and Porsche announced the plan to hold merger talks on May 6.
Bugatti reveals footage of record-setting open-top run
Mon, 29 Apr 2013In case there was any doubt, Bugatti posted footage on Monday of its $2.6 million Veyron Grand Sport Vitesse hitting a record-setting 254.04 mph at Volkswagen's Ehra-Lessien test track. Chinese racing driver Anthony Liu was behind the wheel. If you'll remember, when Bugatti had its hardtop top-speed record pulled, it quickly set this test in motion to quiet any detractors.