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Daimler agrees to unload remaining Chrysler stake
Mon, 27 Apr 2009Daimler 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.
Rinspeed UC? Electric Car Concept at Geneva
Mon, 15 Feb 2010The Rinspeed UC? (Urban Commuter) Electric Car Concept Rinspeed are a Swiss car designer studio and, as you would expect on their home turf, they usually churn out a concept for the Geneva Motor Show. And this year is no different, except this concept is about Eco and Electric instead of power and performance.
Design Contest: Ferrari 'New Concepts of the Myth'
Wed, 23 Nov 2005Automotive design students from all over the world gathered in Maranello this week for the award ceremony of the 'Ferrari - New Concepts of the Myth' design competition. The winners were announced and awarded their prizes at Galleria Ferrari, within walking distance of Ferrari headquarters and Ferrari's Fiorano test track. The coveted prizes are six months of exciting and very demanding work at Ferrari and Pininfarina creative centres, under the leadership of Ferrari's Donato Coco (in Maranello) and Pininfarina's Ken Okuyama (in Torino).