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Maybach reaches end of the line

Daimler AG is set to announce the closure of its Maybach ultra luxury brand this weekend, according to reports. The underperforming 57 and 62 limousines are to be killed off in 2013, following a decision from chairman Dieter Zetsche who has elected not to invest in their respective replacements for 2014. Following a concept car preview at the 1997 Tokyo motor show, Maybach was resurrected in 2002 after Daimler AG failed to purchase either Rolls-Royce or Bentley from then owners, Vickers.

Toyota shelves A-BAT pickup concept

Toyota won't build the small, ultramodern A-BAT hybrid pickup concept that was a head-turner at the 2008 Detroit auto show and looked like a good bet for production. "We have a lot of top priorities, and A-BAT is not one of them right now," Bob Carter, Toyota Division's general manager, told the Web site PickupTrucks.com. "It's on the shelf." A Toyota official confirmed Carter's comments.

Singapore billionaire Peter Lim invests in McLaren Automotive

Singapore billionaire Peter Lim has invested in McLaren Automotive and has taken a spot on the board of directors along with Ron Dennis, Mansour Ojjeh and the Bahrain Mumtalakat Holding Co., McLaren said on Friday. The company declined to reveal the amount of the investment, but privately held McLaren said it is a “significant amount.” More details of the deal will be announced closer to the Singapore Grand Prix. Lim is ranked as the eighth-richest businessperson in Singapore, according to Forbes, and he owns a chain of Manchester United-themed restaurants and bars in Asia.