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GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).

Koenigsegg One:1 (2014) first official pictures

By Ollie Kew First Official Pictures 28 February 2014 14:00 Stand well back. This is the Koengisegg One:1, and it may well need a team of lion-tamers to restrain it from leaping clean off its Geneva motor show stand and picking a fight with the McLaren P1, LaFerrari and Porsche 918. You’re looking at, according to Koenigsegg, the new fastest road car in the world.

Aston Martin CC100 tease ahead of Nurburgring reveal tomorrow (video)

UPDATE: Aston Martin CC100 Speedster Concept now Revealed 2013 is Aston Martin’s centenary, and as you’d expect there’s lots of ’100 Years of Aston Martin’ events going on, including the first hydrogen powered Rapide at this weekend’s Nurburgring 24hr. But that’s not all there will be at the Nurburgring tomorrow from AML. The Aston Martin CC100 centenary special edition – an open roadster recalling the legendary DBR1 – is due to be unveiled tomorrow (19th May 2013) and Aston Martin have revealed a tease buried in a new video – ‘Aston Martin Past, Present and Future’ (below).