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F1: Mercedes sticks with McLaren – Brawn still likely

Mercedes are sticking with McLaren for the 2010 season - but probably Brawn GP too. As the F1 season drew to a close at the Yas Marina circuit in Abu Dhabi yesterday, the whole of the top end of Mercedes Benz management was on hand. They had expected to see Lewis Hamilton in the Mercedes McLaren waltz to a win, but had to settle for simply powering the world champion – Jenson Button – to victory this year and claiming third and fourth place at the inaugural Abu Dhabi Grand Prix.

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.

General Motors spending $131 million to upgrade Corvette plant

General Motors is spending $131 million on its Bowling Green, Ky., assembly plant to prepare it to build the next-generation Corvette. The plant will spend the money on manufacturing equipment, specialized tooling and plant updates, said Mark Reuss, GM's president of North America. The plant will add about 250 jobs, which will boost its workforce by about 50 percent, to about 750 workers.