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Gran Turismo 5 features Newey's dream car

WITH VIDEO -- Red Bull Racing's X1 Prototype, designed by Adrian Newey and tested by Formula One driver Sebastian Vettel, will be included in the Gran Turismo 5 video game set to go on sale in November. When creating Gran Turismo 5, the Polyphony Digital design team wanted an ultimate car, one not limited by the rules. "Every race in the world today conforms to some sort of regulations, and every racing car is built to fit within those various regulations," said Kazunori Yamauchi, president of Polyphony Digital Inc.

Obituary: Bob Wallace, Lamborghini test driver

Bob Wallace, Lamborghini’s first ever test and development driver, has passed away in the Italian supercar manufacturer’s 50th anniversary year. He was 75. New Zealand-born Wallace played a key role in the development of the firm’s road cars between 1964 and 1975, having joined the company initially as a mechanic.

Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.