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Energy Department recovers $21 million from Fisker to pay back loans
Tue, 23 Apr 2013The U.S. Department of Energy says it recovered $21 million in cash from struggling Fisker Automotive that will go toward repaying nearly $200 million in loans extended under a U.S. program to spur advanced vehicle development.
Autoweek's Vinsetta Garage premieres tonight on the Velocity Network
Tue, 03 Jan 2012Join host Courtney Hansen and a collection of the most interesting and insightful names in the car world on Tuesday, Jan. 3, as Autoweek's Vinsetta Garage premieres on the Discovery Channel's new car-centric Velocity Network. The show, named after an iconic Detroit-area repair shop, will air on Tuesdays at 8:30 p.m., bringing you automotive tales well told thanks to Autoweek's unparalleled access and expertise.
Caterham sells F1 team
Wed, 02 Jul 2014Caterham The Caterham Formula 1 team has been sold to a consortium of Swiss and Middle-Eastern investors following a poor season so far in 2014. Rumours that Caterham would cut its losses have been rife, since team founder Tony Fernandes threatened to quit if things didn't improve this year. The team is currently bottom in the championship and Fernandes hinted of an exit last week, when he tweeted “F1 hasn't worked, but love Caterham Cars.” Graham Macdonald, Caterham Group CEO: “Firstly I want to thank everyone who was involved in the F1 team for all their hard work and dedication since the team’s first days in 2009.