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News watch February 2012: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 29 February 2012• Following on from yesterday's news of a cross-holding between PSA and GM, it now appears that Peugeot Citroen would offer a €1bn rights issue to create cash and strip back jobs as part of its proposed alliance with GM (Automotive News Europe)  • The Bloomberg Riskless Return Ranking, a survey of investor performance, suggests that Kia has outperformed all 22 other car makers with a risk-adjusted return of 9.2% in the past five years. Second highest was Hyundai, whose shares rose 4.8% in the same period (Bloomberg)• Fisker has a new chief executive officer, as founder Henrik Fisker moves to executive chairman. The new boss is Tom LaSorda, the former top man at Chrysler pre-bankruptcy (Fisker)Tuesday 28 February 2012• General Motors is in talks to buy a 5% to 7% stake in PSA Peugeot Citroen, according to reports by news agencies Bloomberg and Reuters.

Fiat 500 Electric 2012 launch

The Fiat 500 Electric Concept was at the Detroit Motor Show this year At the 2010 Detroit Motor Show Fiat brought along an electric concept version of the Fiat 500, together with a Chrysler-badged Lancia as a clear indication that times are changing at Chrysler. And it would appear they’re changing even more quickly than we expected with the announcement that the Fiat 500 EV is going in to production, and will go on sale in the US in 2012. Obviously spurred on by the unexpected success in recent years of that other motoring retro icon the MINI, Fiat are pushing ahead with plans to introduce the regular Fiat 500 in to North America in 2010, although that will be preceded by the 500 Abarth and 500C Abarth, which will be the first versions of the 500 to reach American shores.

Hyundai ix35 FCEV Hydrogen Fuel Cell in production by end 2012

Hyundai will have its hydrogen powered ix35 FCEV in production by the end of 2012 with full production by 2015. We’ve spotted the Hyundai ix35 FCEV (that’s the hydrogen fuel cell electric vehicle) out in South Korea sporting a new nose a couple of times recently, which apparently doesn’t signal a facelift for the ix35. What it does signal is Hyundai’s commitment to the hydrogen fuel cell as the most sensible fuel for cars in the future and to remove our dependency on oil, and Hyundai has been out promoting that message in London.