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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.

Fiat Chrysler Automobiles reveals new name, logo

Earlier this month, Fiat purchased the remaining 41% of Chrysler, the American car company it has held a majority stake in since 2009. During this time, the two logos have appeared side-by-side on relevant forms of communication. But today the Group has unveiled a new corporate identity, which it says reflects “strong core values that represents a unique corporate culture, a common vision and a Group with an international reach”.

NHTSA studies Toyota Corolla airbags

Federal regulators are investigating a motorist's report that the airbags in his 2008 Toyota Corolla failed to deploy when the vehicle hit a deer at 55 mph. The National Highway Traffic Safety Administration said this week that the airbag probe could affect as many as 170,000 vehicles. The Corolla has been Toyota's second-best selling model, after the Camry, in recent years.