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GM sells Suzuki shares to raise emergency funds
Mon, 17 Nov 2008By Tim Pollard Motor Industry 17 November 2008 15:24 GM is flogging its entire stake in Suzuki to pump cash into its survival funds. The General owns a 3% holding in Suzuki Motor Corporation and will sell 16,413,000 shares on the open market tomorrow. Based on today’s values, GM will raise an estimated £154 million through the sale, although Suzuki will exercise an option to buy back an equivalent number of its own shares in treasury stock.
Brazilian students develop soapbox racers for Volkswagen
Wed, 18 Dec 2013Brazilian design students have competed for year-long internships at Volkswagen's Brazilian design studio by designing – and racing – soapbox cars. Established 15 years ago by Volkswagen South America design director Luiz Veiga, the Volkswagen Design Talent Contest refreshed its format for 2013 by challenging students to develop a prototype for a gravity-powered soapbox racer instead of asking for sketch and render-based proposals. According to Veiga, Volkswagen was looking for someone "capable of working away from the desk and able to create design solutions, assess and build them".
Possible Ferrari F70 tester spotted
Thu, 07 Jun 2012The above photos of what very well might be a development mule for the next primo Ferrari —likely to be called the F70—were recently posted on the Ferrari 4/5 Competizone Facebook page. The future F70 is expected to be a front-runner in the competition between the very best cost-no-object supercars. The F70 will feature a 7.3-liter V12 coupled to a kinetic-energy-recovery system, a combination that will be good for 920 hp.