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General Motors draws on global designers for the new Chevrolet Corvette

For the first time, General Motors studios across the world have submitted design studies for the next-generation Chevrolet Corvette. Late last year, Ed Welburn, GM's vice president of global design, invited GM's 10 styling studios to submit design proposals. Some "were absolutely phenomenal," Welburn said.

Mitsubishi closes California design studio

Mitsubishi Motors Corp. closed its design studio in Cypress, CA last Thursday – just one month shy of its 25th anniversary. A result of the recent downturn in the global economy, the closure of the facility will eliminate 33 design positions as part of a personnel cull that has seen 60 people within the automaker's US operations lose their jobs.

Caterham-Lola SP/300.R revealed

Caterham-Lola SP/300.R For the first time in a generation – well, 15 years – Caterham has produced a new car. And although it’s a track car – initially destined for a one-make series – it could spawn a new road car. The Caterham-Lola SP/300.R weighs in at under 600kg and features a bespoke Lola chassis and a Ford Duratec engine good for 300bhp.