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News watch February 2012: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 29 February 2012• Following on from yesterday's news of a cross-holding between PSA and GM, it now appears that Peugeot Citroen would offer a €1bn rights issue to create cash and strip back jobs as part of its proposed alliance with GM (Automotive News Europe)  • The Bloomberg Riskless Return Ranking, a survey of investor performance, suggests that Kia has outperformed all 22 other car makers with a risk-adjusted return of 9.2% in the past five years. Second highest was Hyundai, whose shares rose 4.8% in the same period (Bloomberg)• Fisker has a new chief executive officer, as founder Henrik Fisker moves to executive chairman. The new boss is Tom LaSorda, the former top man at Chrysler pre-bankruptcy (Fisker)Tuesday 28 February 2012• General Motors is in talks to buy a 5% to 7% stake in PSA Peugeot Citroen, according to reports by news agencies Bloomberg and Reuters.

Discovery Velocity TV channel to launch Oct. 4

The Discovery Network is launching a new channel--Discovery Velocity--aimed at upscale car guys and girls. It will replace HD Theater on your cable or satellite system. The initial lineup features more than 140 hours of original shows.

Automotive Suppliers Demo the Future at CES

There is no shortage of cool stuff at CES. Just wandering around the 2 million square feet of the Las Vegas Convention Center was like being in Willy Wonka's Chocolate Factory for technophiles. For instance, just inside the Center Hall was the ginormous LG wall o' TVs, all synched together and blasting incredible 3D images that looked like a Beetles short from 1967.