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Jaguar puts C-X75 supercar on ice
Tue, 11 Dec 2012Jaguar has reversed its plan to sell the C-X75 hybrid supercar, fearing the project could be a commercial failure unable to recoup its investment. ‘After a thorough reassessment of the market conditions, the company’s view is that the global economic landscape does not currently support the introduction of a supercar such as C-X75,’ said Adrian Hallmark, Jaguar global brand director. Together with project partner Williams F1, Jaguar has built five prototypes of the plug-in hybrid.
Chrysler's main creditors reach deal with U.S.; others hold out
Tue, 28 Apr 2009The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.
Roewe 950
Tue, 10 Apr 2012SAIC has released details and images of the production version of its new Roewe 950, which will make its world debut at this month's Beijing International Motor Show. The Roewe 950 will be the flagship product of SAIC's range. The new sedan is the creation of both SAIC Design and Pan Asia Automotive Technology Center (PATAC) and is a substantial reworking of the Buick LaCrosse.
