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Lotus Group CEO Dany Bahar suspended, facing investigation

Lotus Group chief executive officer Dany Bahar has been suspended and is facing an investigation following an undisclosed conduct complaint. While there is no official word on the nature of the complaint against Bahar, the The Daily Telegraph reports that it might be related to expenses claimed by Bahar or a legal dispute surrounding renovations on one of two Norwich, England, rental homes paid for by Lotus. Bahar's suspension has heightened the uncertainty surrounding the future of the Lotus Group.

L'argus European Design Competition 2004 winners announced

With its 3rd design competition, French automotive magazine L'argus de l'automobile challenged design students in the European Union to express their creativity on the theme 'Imagine the convertible commercial vehicle'. With a total of 350 designs submitted, the competition was a resounding success, confirming the interest design schools and their students are taking in this forward-looking competition. Starting out from a light commercial vehicle, the candidates had to propose changes adapted to the specific needs of their user: their basic vehicle could for example be transformed into a helicopter for delivery services, into a work platform for engineers, into a workshop for joiners.

Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.