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Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

Apple Watch users warned

IN THE wake of the new Apple Watch's arrival, early-adopters are being warned that using it while driving could be a deadly mistake that lands them in jail. Smart watches can issue regular updates from internet services, apps and the user’s mobile phone, but the Institute of Advanced Motorists (IAM) is urging people to turn them off while at the wheel. In a statement the IAM said: “The latest piece of wearable technology from Apple will allow users to make and receive calls, check their messages and monitor their health by operating the device on their wrists.

BMW i3 starts at $42,275

The electric BMW i3 mini crossover will cost $42,275, including destination, when it debuts to the press on July 29. The company is hosting three simultaneous launch events in London, New York and Beijing. The production version of the car was first seen at the Frankfurt motor show in March.