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MG Rover – Serious Fraud Office (SFO) to investigate

The Rover 75 Coupe - one of MG Rover's last big ideas before its collapse in 2005 MG Rover was bought from BMW for the princely sum of £10 after BMW had had enough of trying to make a viable company out of a business that was still undermined by the woes – and attitudes – of the British Leyland years. That £10 purchase price also came with £425 million in loans from BMW, so MG Rover had a chance. But the collapse, and the subsequent sale of the rights to the MG trademark to SAIC (Shanghai Automotive Industry Corporation), brought accusations that the ‘Phoenix Four’ – Directors and owners of MG Rover – has acted fraudulently when it was revealed they had acquired more than £40 million in pension rights, salary and assets in the intervening five years between purchase from BMW and collapse.

Mitsubishi XR-PHEV, Concept GC-PHEV and Concept AR revealed for Tokyo

Mitsubishi XR-PHEV, Concept GC-PHEV and Concept AR revealed for Tokyo With the Tokyo Motor Show arriving at the end of the month, Japanese car makers are revealing the concepts they hope will steal the limelight at their home show, and today it’s the turn of Mitsubishi to reveal the three new concept cars heading for the show. The three Mistubishi concepts were teased in a moody, shadowy photo in October, but we now get details of the XR-PHEV, Concept GC-PHEV and Concept AR. The Concept GC-PHEV is Mitsubishi’s vision of a next-generation full-size SUV and comes with 4WD and a plug-in hybrid powertrain consisting of a 3.0 litre V6 supercharged engine mated to an eight-speed auto box with a high-output electric motor and high-capacity battery.

Toyota studying larger Prius people-hauler

Toyota's Prius family could continue to grow, literally, as the automaker studies an additional version of the popular hybrid that carries three rows of seats. The three-row Prius would not be the same vehicle as the Prius Alpha sold in Japan, which basically crams a third row of seats into the cargo area of the five-seat Prius V to be sold in the United States starting this fall. To the contrary, this potential Prius would be large enough to hold seven people as well as their stuff, said Bob Carter, Toyota Division general manager.