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Moody's boosts Ford's credit rating

Moody's Investors Service upgraded Ford Motor Co.'s debt to investment grade, culminating the automaker's six-year struggle to win back the Blue Oval and other assets mortgaged in 2006. Moody's is the second agency to upgrade Ford's debt from junk status, paving the way for the company to recover assets it mortgaged in 2006 to stave off bankruptcy. The company raised $23.5 billion in a move that allowed it to avoid government bailouts or bankruptcy when the industry collapsed in 2008.

Porsche Boxster E (2011): prototype Boxster EV

Porsche recently rolled out the first of three Boxster E electric vehicles, to take part in the 'Electromobility Region Stuttgart' local government initiative in Germany. The Boxster E is powered by two electric motors, capable of a peak power output of 180kW. Energy is stored in a 29kWh battery pack.  Not with the Boxster E. Three electric Boxsters are being built as part of a programme sponsored by the Baden-Wurttemberg state government (Porsche's home state in Germany) and WRS, the Stuttgart Region Economic Development Corporation.  Porsche's hometown of Stuttgart is one of eight model regions participating in a federal pilot programme sponsored by the Minitsry of Transport, Building and Urban Affairs to develop EVs and their supporting infrastructure.  The three Boxster E prototypes will take part in the programme, acting as mobile laboratories for testing EV usage and planning for EVs in urban infrastructure.  CAR's view? We reckon this electric Boxster E is much cooler than your usual EV council van.

GM recalls 1.5 million vehicles for oil leak

General Motors is recalling nearly 1.5 million Buick, Chevrolet, Oldsmobile and Pontiac mid-sized cars equipped with a 3.8-liter engine because an oil leak could start an engine fire. Under hard braking, engine oil could leak past a heat shield and drip on the exhaust manifold. The National Highway Traffic Safety Administration says that could start a small fire that could spread to a plastic spark plug wire guide and beyond.