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Ford reaches agreement to sell Volvo to Geely for $1.8 billion

Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced on Sunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.

War of the greens as Leaf gives Volt a shock

By Freddie Fulton Motor Industry 13 August 2009 10:31 The Chevrolet Volt was gunning to be the ‘first mass-produced car with a triple-digit fuel economy,’ according to General Motors CEO Fritz Henderson. Earlier this week he announced the US’s Environmental Protection Agency (EPA) would rate the new Chevy Volt as capable of 230mpg on the open road. The Nissan Leaf EV has picked a bone with the Volt.

SEAT Ibiza Cupster Concept Heading for Worthersee

The SEAT Ibiza Cupster Concept (pictured) is heading for Worthersee Some cars that head for the Worthersee Show look like they could be heading for production, but the SEAT Ibiza Cupster Concept isn’t really one of them. SEAT has built the Cupster Concept as a celebration of thirty years of the Ibiza range and it comes without a roof but with a steeply raked windscreen and wraparound glass, big buttresses where the back seats would usually be (there are no back seats) and a boot mounted spoiler. SEAT are promising more details before Worthersee, but it seems reasonable to assume that the Cupster has the regular Ibiza Cupra under its skin complete with the 178bhp 1.4 litre TSI engine.