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Government to make UK hub for driverless cars

The government has today announced plans to make the UK a world centre for the development of driverless cars – with a £10 million cash incentive to any town or city that builds a test site for autonomous vehicles. The news comes as part of chancellor George Osborne’s 2013 Autumn Statement – alongside plans to scrap the car road tax disc and freeze fuel duty. Tax disc to be scrapped after 93 years On Bing: see pictures of driverless cars Milton Keynes is already experimenting with driverless pods – with plans to introduce a trial in 2015.

Jaguar Land Rover raise £500 million to fund expansion

Jaguar Land Rover raise £500 million Jaguar Land Rover is raising £500 million on the bond market to fund its expansion, including new models and new facilities. Hot on the heels of the Jaguar Land Rover joint venture deal with Chery in China comes the news that Jaguar has dipped in to the private bond market to raise £500 million to help with its bold and bullish plans to make JLR a major world player in the premium vehicle sector. JLR plans to invest £1.5 billion a year on expansion and is making sure its coffers can cope by issuing £500 million of senior notes due in 2020, with the net proceeds of the bonds being used for general corporate purposes.

First nine 'Legends of Bugatti' Veyron are all sold out

Seems like a lot of the world's wealthiest auto fanatics/premium lifestyle enthusiasts can't wait to find out what the successor to the awe-inspiring Bugatti Veyron will look like. Knowing full well that the automaker won't start working on its next seven-figure neck-snapper until the remaining stock of Veyrons is accounted for, they've been eating up the cars like they're going out of style: Bugatti says the nine examples of its "Legends of Bugatti" series produced so far have been sold. That's despite a roughly $3 million per-car sticker price.