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GM shifts gears, will keep Opel

General Motors' board of directors has decided that it will keep the Opel business and restructure it, putting an end to plans to sell the European operations to auto supplier Magna International. GM said it expects the restructuring of Opel to cost $4.42 billion (3 million euros), which it says is lower than the costs associated with outside bids for the company. GM said it will soon present its restructuring plans for Opel to the German government and other governments in Europe.

Lotus Exige LF1 Limited Edition – one for every Lotus F1 victory

Lotus Exige LF1 Limited Edition – one for every Lotus F1 victory It’s a nice idea to build a limited edition car – the Lotus Exige LF1 – to celebrate very one of the 81 victories Lotus has enjoyed in F1, but it does make you wonder if Lotus has done it because they’re never likely to win again (and if they do, do they produce another LF1?). Still, Lotus has pulled out the icon JPS livery for the Lotus Exige S (from the days cigarettes could be advertised) to give the LF1 a pretty paint job of black and gold (with added red bits) including a black and gold Lotus badge up front and a contrast stitched interior with F1 logos on the seats. Also interesting is that each car will receive a plaque commemorating each individual victory, from the 1960 win at Monaco with Stirling Moss behind the wheel to the last in Australia in 2013 with Kimi Raikkonen.

Terry Karges to replace Buddy Pepp as executive director of the Petersen Museum

Terry Karges will take over as executive director of the Petersen Automotive Museum in Los Angeles on Aug. 15, replacing Buddy Pepp, who is retiring after more than two years on the job. Karges brings four decades of automotive, entertainment and motorsports management experience to the Petersen.