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Changan opens new European Designing Center in Turin

Changan celebrated the opening of its European Designing Center in Turin, Italy, last week as part of its celebration of the historic company's 150th anniversary. An audience of VIP guests and press were given grand tour of the new facility located in Rivoli near Turin after an opening ceremony filled with the pomp and pageantry we've come to expect from the Chinese car industry. The new 11,000 square meter European Designing Center is Changan's latest move to grow its business globally, having already established research and development centers at five Chinese locations as well as in Detroit USA, Nottingham UK, and Yokohama Japan.

Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

Next BMW X1 loses inline-six, gets smaller and lighter

The second-generation BMW X1, expected here in early 2016, is smaller and lighter than the existing first-generation model. The new X1 loses optional six-cylinder power; a new high-output four-cylinder replaces it. A high-ranking BMW manager confirmed the new X1 abandons today's longitudinal engine layout for a version of the new transverse-engine platform the 2-series Active Tourer uses.