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Newsflash: Magna 'agrees to buy GM Europe': latest news

Latest news: what Magna's deal means for GM Europe By Tim Pollard Motor Industry 29 May 2009 19:31 Canadian parts giant Magna this afternoon struck an agreement in principle to buy stricken GM's European arm, Opel and Vauxhall. The agreement has not yet been confirmed publicly and is still in the early phase, but brings to an end an uncomfortable round of talks in the past 48 hours which saw a spat between American negotiators and European politicians, and Fiat CEO Sergio Marchionne walking away from the table.Once sealed, the deal must first be approved by the German government, which is to provide interim funding to the new owners. However, Italian car maker Fiat isn't yet totally ruled out of the running, as Magna's chief exec earlier today intimated that he could be interested in cooperation.CAR Online will update with the latest developments as they happen.

Nissan expands Beijing studio

With the expansion of the Chinese market, the country's position in the automotive industry is increasingly important. Homegrown design elements look set to enhance brand competitiveness, while the on-the-ground knowledge garnered by Chinese studios is becoming invaluable feeding back into global companies. It's clear therefore that Nissan Design China (NDC) will play an increasingly important role in Nissan's global design network.

Toyota GT 86 (2012) first official pictures

Toyota has a long history of long gestations for its sports cars (remember the Lexus LFA's birth?). But today we can finally bring you the first pictures of the new Toyota GT 86 sports car, ne FT-86 concept car from back in 2009. We'll see the GT 86 at the Tokyo auto show in the next week, with UK sales due in spring 2012.