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Team Lotus buys Caterham Cars

Caterham Cars has been sold to Team Lotus Enterprise, the holding company for the Team Lotus Formula One team.  So Lotus has bought back the Caterham Seven? No. Team Lotus, the UK-based F1 team owned by Malaysian businessmen Tony Fernandes, Kamarudin Meranun and SM Nasarudin has done the deal. You're thinking of Group Lotus, the makers of Lotus sports cars led by Dany Bahar – Group Lotus sponsors of Lotus Renault GP, the UK-based F1 team that was formerly Renault.

General Motors CEO Rick Wagoner out, replaced by COO Fritz Henderson

General Motors chairman and CEO Rick Wagoner has agreed to "step aside" after pressure from the Obama administration last week, ending his eight-year tenure at the helm as the company seeks additional federal aid. He's been replaced by GM President and COO Fritz Henderson, effective immediately. GM confirmed the moves shortly after midnight Monday.

Spy photos: BMW i8 hits Swedish test track

Spy photographers caught the new BMW i8 testing on a secret track wearing the company’s familiar psychedelic camouflage. The test car pictured is a preproduction model rather than a concept BMW i8, similar to what should appear in 2013. As reported earlier, we’re expecting BMW’s 2014 i8 hybrid coupe to get a 1.5-liter, three-cylinder direct-injection gasoline engine--essentially the same unit earmarked to head into the next-generation Mini and the front-wheel-drive BMW 1-series due out in 2014.