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GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.

BMW i3 Range Extender engine adds 10% to the price

BMW i3 Range Extender engine adds 10% to the price The BMW i3 – BMW’s first foray in to a world of electric cars – was officially revealed in July – and due on sale in 2014 – and seems, by electric car standards, to be almost affordable. At a starting price of £30,680 – £25,680 after the taxpayer bribe for EV buyers – it’s no more expensive than other electric cars and does come with some clever technology – and the BMW badge – that will help it move out of showrooms. But as we reported as far back as 2011, the BMW i3 is to get a range-extender option – a small petrol engine that kicks in to recharge the batteries when they get low – which will make the i3 a much more practical proposition.

Pagani C9 mule spied

The Pagani C9 testing in South Africa - image from Easycarblog A couple of weeks ago we reported that Horacio Pagani had been talking about the new Pagani C9 to the Argentinian press. The C9, in case you didn’t know, is Pagani’s replacement for the Zonda and is due to be revealed alter this year. The Pagani C9 will feature an all new, Mercedes-built 6.0 litre bi-turbo V12 with 700bhp.