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2014 Mercedes-Benz S63 AMG revealed

Mercedes-Benz's AMG performance-car division has officially revealed its new 577-hp S63 AMG ahead of the rapid sedan's public Frankfurt motor show debut in September. Several traditional AMG styling mods distinguish the S63 from recently introduced but lesser S-class models (“S-class Stunner,” Autoweek, May 27). They include a deep new front bumper, chromed blade grille, twin-turbo V8 badges on the side and beefed-up sills.

Senate releases $350 billion more in bailout money

The Senate voted Thursday to release a second round of $350 billion in federal aid to rescue financial institutions. The money could be the source of additional loans to automakers, auto finance companies and perhaps suppliers. An earlier allocation of $350 billion funded the first installments of emergency loans to General Motors and Chrysler LLC.

Volvo makes breakthrough in battery tech

Volvo has developed a new way of ‘storing’ energy for its future electric vehicles. The Swedish firm is exploring the concept of lightweight structural energy storage components made from carbonfibre, containing “nano structured batteries and super capacitors.” This technology is said to offer a lighter, more compact solution to the problem of energy storage, potentially removing the need for the heavy, bulky batteries used in current electric vehicles. On Bing: see pictures of the Volvo S80 Find out how much a used Volvo S80 costs on Auto Trader The investigation into the new technology is part of an EU-funded research project, undertaken by Volvo – the only major car manufacturer involved – and nine other organisations.