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Toyota will compete at 2012 Le Mans with a hybrid

Toyota today announced it would compete at the 2012 Le Mans 24-hour race with a hybrid sports car in the LMP1 class. This single rendering has been issued of the new Toyota hybrid race car. The Japanese giant has not competed at Le Mans in a factory team since the late 1990s with the GT-One, which set a lap record in 1999.

Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

Camouflaged Cadillac ELR spotted on the road

Autoweek reader Josh Lindquist recently snapped these photos of what may be a camouflaged Cadillac ELR cruising around metropolitan Detroit. While the photos don't show the car from every angle, its lines are strikingly similar to those on the ELR featured on Cadillac's official Web site. The ELR first appeared as the Cadillac Converj concept in 2009.