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Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

Meet the Kia Soul EV and Niro hybrid concept

Kia revealed three electrified cars at the Chicago Auto Show on Thursday, one concept and two that are headed for production. The Niro hybrid is Kia’s future take on a city car, while the Soul EV and new Optima hybrid will be out later this year. The Soul EV is the company’s main focus at the show, judging by our seven pages of press releases on it.

Who's Where: Alfonso Albaisa appointed Nissan Design Director for Global Passenger Vehicles and Electric Vehicles

Alfonso Albaisa has been appointed as Nissan's Design Director for Global Passenger Vehicles and Electric Vehicles, a job that will see him move back to Japan. Albaisa joined Nissan Design America almost 24 years ago and has worked on vehicles in every category and on both interior and exterior projects. He has also worked on customized super yacht design and architecture, one of his particular passions in life.