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Daimler agrees to unload remaining Chrysler stake
Mon, 27 Apr 2009Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.
Peugeot RC hybrid concept
Wed, 20 Aug 2008Peugeot is poised to reveal the latest in its ‘RC' range of concept cars at the Paris Motor Show in October. Continuing on from the RC Spade and RC Diamond concept cars unveiled at the 2002 Geneva Motor Show, the as yet unnamed concept also follows on from the 908 RC V12 diesel concept of 2006. Designed by a team led by Peugeot head of design Jérôme Gallix, the four door, four seat sedan is claimed to be an accessible and versatile eco-efficient GT coupé.
EU new car CO2 targets pushed back
Wed, 27 Nov 2013The European Union’s plans to cap new cars to 95g/km CO2 by 2020 has been delayed, after months of lobbying led by Germany. Instead, the 95g/km target will be introduced a year later in 2021, but with an additional amount of flexibility intended to make the transition easier – especially for luxury carmakers such as BMW and Mercedes-Benz, which generally build bigger, heavier vehicles. Stricter CO2 rules will save drivers cash Top 10 most economical cars The new compromise, agreed on Tuesday (26 November 2013) and set to be presented to EU diplomats on Friday (29 November 2013), changes the rules on ‘supercredits’ – which allow manufacturers claim extra credit for especially low emissions cars, such as all-electric and plug-in hybrid vehicles.