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UPDATED: Aston Martin sold

By Phil McNamara Motor Industry 12 March 2007 09:38 Aston Martin is today under new owners, following the sale of Britain’s premier sports car company to an investment consortium. After 20 years of ownership, Ford divested itself of the brand, its facilities and its products, in a deal valuing Aston at £479m.   The new owner is a consortium led by David Richards, boss of automotive consultancy Prodrive, who helped to unite two private investment companies from Kuwait. Adeem Investment, which already owns the Grosvenor House Hotel in London, has a portfolio worth $1.5 bn.

Chrysler's high-stakes 'no' to NHTSA

DETROIT -- For 17 years, automakers have complied with every request for a recall, no matter how costly, from the National Highway Traffic Safety Administration. And then last week, in a startling decision, Chrysler Group said no. It refused a request from NHTSA to recall 2.7 million 1993-2004 Jeep Grand Cherokees and 2002-07 Libertys for an alleged fire risk caused by fuel tanks mounted behind the rear axle.

Rimac Concept_One Electric Supercar Salon Prive debut

The very impressive Rimac Concept_One electric hypercar, which debuted at Frankfurt 2011, is to show at Salon Prive. Now the Goodwood Festival of Speed  is over for another year, the next big petrolhead event is Salon Prive – which has been pushed back to September to avoid clashing with London 2012 – and Mate Rimac has announced his Rimac_One electric hypercar will be making its UK debut on the lawns of Syon Park. The Mitac_One, which was revealed at the Frankfurt Motor Show last year and conceived by precocious 24yr old Mate Rimac,  is a technological tour de force for electric cars, offering four electric motors – one on each wheel – which can accelerate and decelerate independently to offer true four wheel vectoring and stunning handling.