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Ford reaches agreement to sell Volvo to Geely for $1.8 billion

Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced onSunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.

Hyundai Arnejs

Hyundai has released this sketch of the Arnejs (ar-nez), a new hatchback that will represent the Korean firm in the busy European C-segment. The Arnejs is sister to the Kia C'eed, and will be on the road by Summer 2007 following its production preview at the Paris Motor Show.  The C'eed itself will be shown in production form nearby, ready for Fall sales this year. Expect engines to be shared between the two.

Michelin Challenge Design announces 2008 jury

Michelin Challenge Design, known for enticing some of the world's most talented up and coming designers, has convened its 2008 panel of judges. The eight automotive design experts met July 16-17, 2007, at Art Center College of Design in Pasadena, California, to select the vehicle designs and concepts for special exhibition at the 2008 North American International Auto Show in Detroit next January. This year marks the seventh year for the international competition with a record 272 individual designers, teams, studios, and companies from over 50 countries submitting full-size vehicles, scale models and computer-generated renderings in support of the central theme, 'Safer.