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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.

German Grand Prix Qualifying (2014): Rosberg on pole for Mercedes – Hamilton crashes out

Rosberg takes pole in the 2014 German Grand Prix Lewis Hamilton managed to close the gap to Mercedes teammate Nico Rosberg at the British Grand Prix two weeks ago after Rosberg’s car fell foul to mechanical failure, but it was Lewis’s turn to catch the Mercedes mechanical gremlins today as brake failure in qualifying saw him crash out. Hamilton suffered brake failure ten minutes after qualifying began and crashed heavily at speed in to the stadium section, going out of qualifying and causing a red flag for the session. Lewis was checked over after the heavy crash and is fine, but the pole position subsequently gathered in by team mate Rosberg won’t have been any consolation, Just fou7r points behind Rosberg in the driver’s championship battle after the British Grand Prix, Hamilton now faces a big uphill struggle to minimize Rosberg’s advantage in tomorrow’s race, but at least Hamilton’s first flying lap before the crash has sealed him 15th spot for the race.

Peugeot HYbrid3 Evolution concept (2009) revealed

Peugeot’s car division has lagged miles behind rivals when it comes to hybrids – its first doesn’t go on sale until 2011. But it’s all different on the bike side of the company, which could be among the first to introduce a hybrid scooter. The three-wheel Hybrid3 Evolution has a supercharged 300cc petrol engine that sends 41bhp to the single rear wheel, and a pair of electric motors delivering a total of 8bhp to the twin front wheels.