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£10 million cash boost for Lotus

Business secretary Vince Cable has visited Lotus’ Norfolk headquarters today, where he announced the company would be awarded £10.44 million from the Regional Growth Fund. The money will be used for research and development of products, as well as staff training. The sports car company expects to create 313 full time jobs to support production over the coming years.

2010 Cadillac SRX recalled for possible fire issue

Cadillac is recalling 3,996 copies of the 2010 SRX crossover to check for possible damage to a power steering line, which could result in a fire. If the power steering line is damaged, fluid could leak out onto hot engine parts and start a fire in the engine compartment. Cadillac says only one fire has been reported.

Renault buys Caterham stake in Alpine as Anglo-French deal collapses

By Michael Karkafiris Motor Industry 10 June 2014 10:36 The collaboration between Renault and Caterham officially ended today, with the French company acquiring Caterham’s remaining stake in Alpine. It marks the end of the road for the Anglo-French collaboration, leaving Renault the sole owner in Société des Automobiles Alpine. Today’s announcement terminates the 50-50 partnership signed in November 2012 between the two companies, a partnership that started with the promise of building two sister sports cars, one from Alpine and one from Caterham.