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GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.

Porsche Panamera Sport Turismo on the move (video)

As a clear sign that the Porsche Panamera Sport Turismo is heading for production, we have a new video of the Sport Turismo in detail. That view is reinforced with the arrival from Porsche of video of the Panamera Sport Turismo on the move and input from a pair of talking heads – Advanced Design Style man Mitja Borkert and Michael Mauer, head of the Porsche Design Studio – giving us an insight in to the thinking behind the Sport Turismo. ‘Good design is important, because everyone loves beautiful things’, says Mitja Borkert, although some would say that function has been more important than form for Porsche in the past.

Is BMW’s Project-i (i3 & i8) in trouble?

Reports suggest that BMW are getting cold feet over their electric Project i and are considering delaying the i3 and i8. We’re not the biggest fans of the electric car, although we certainly see it has a place in our new world. But as a replacement for the ICE car it’s a non-starter.