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Taggart motorcycle collection to cross the block during Pebble Beach weekend

Auction house Mecum will sell a collection of Michael Taggart's motorcycles along side the classics, vintage racers and exotics this year at Pebble Beach. They all will be offered at the third-annual Mecum Monterey Auction on Aug. 18-20 at the Hyatt Regency Monterey Hotel and Spa on the Del Monte Golf Course in California.

Mercedes AMG GT gets new 503 bhp Twin-Turbo 4.0 litre V8 (video)

The new Mercedes AMG GT (pictured) gets the new 503 bhp Twin-Turbo 4.0 litre V8 We’ve speculated that the new Mercedes AMG GT – and, for that matter, futures ’63′ AMGs – will get a new twin-turbo V8 to provide the power as Mercedes look to move away from the naturally aspirated 6.2 litre V8 in cars like the SLS. And this is it. A new 4.0 litre twin-turbo V8 – the M178 engine – has been developed to replace the 6.2 litre V8 and, in initial tune, develops 503 bhp at 6250 rpm and 479lb/ft of torque from just 1750 rpm.

£10 million cash boost for Lotus

Business secretary Vince Cable has visited Lotus’ Norfolk headquarters today, where he announced the company would be awarded £10.44 million from the Regional Growth Fund. The money will be used for research and development of products, as well as staff training. The sports car company expects to create 313 full time jobs to support production over the coming years.