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Williams F1 sells Williams Hybrid Power to GKN for £8 million

GKN have bought williams Hybrid Power in an £8 deal Back in 2010 we reported on a flywheel developed by Williams F1 that recoups energy from braking, and was fitted to a Porsche 911 GT3 to give an extra boost of power. Williams F1 developed the Flywheel technology with a start-up company, which it bought out for £1.5 million in 2010, and now that company – which became Williams Hybrid Power – has been sold to GKN in a deal worth £8 million – and a share of sales revenue going forward – and is being renamed GKN Hybrid Power. The plan is to use the flywheel technology to reduce fuel consumption of transport that is constantly stopping and starting – it’s currently being used on a bus operating in London – and  Williams expect it could cut fuel use by up to 30 per cent.

Fiat taking 35% stake in Chrysler

Fiat S.p.A. and Chrysler LLC confirmed today that the Italian company intends to acquire an initial 35 percent stake in the U.S. carmaker.

16-year-old Verstappen to race in Formula 1

TEENAGER Max Verstappen is confident he can handle the pressures of the world of Formula One and insists he is not worried about the sport's dangers. The 16-year-old is set to become the youngest driver in F1's history after joining Toro Rosso for the 2015 campaign. Verstappen - 17 in September and currently competing in Formula Three - will replace Frenchman Jean-Eric Vergne at the Red Bull-owned team.