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Hennessey to build limited-edition Venom GT WFE

Hennessey Performance is building an extremely limited run of World's Fastest Edition Venom GTs to celebrate the company's top speed run of 270.4 mph set at NASA's Kennedy Space Center in February. It holds the unofficial record for fastest series-produced road car and the official record for standing-start acceleration. The Venom GT hit 186 mph in 13.63 seconds.

Former General Motors CEO Robert Stempel dies

Former General Motors CEO Robert Stempel, who led the automaker during a turbulent period of recession and restructuring in the early 1990s, has died at the age of 77. "Bob was a very popular chairman with employees, and his many accomplishments as a visionary engineer included leading the development of the catalytic converter, one of the great environmental advancements in auto history," GM said in a statement. "His knowledge of battery development led to the push for the EV1 electric car, and Bob continued to build his expertise in the electrification of the automobile after he left GM in 1992." Stempel died Saturday in Florida, the Detroit News and Detroit Free Press reported Monday night.

VW Phaeton - the new one coming in 2015

A brand new Volkswagen Phaeton Mk2 will be launched in 2015, based on a new architecture being masterminded by cousins Audi. Dubbed VW631, the new VW Phaeton will be based on MLM Evo (modular longitudinal matrix) which makes provision for a plug-in hybrid option, an aluminium-intensive body structure and a much more advanced and less nose-heavy dynamic layout. Although VW chairman Martin Winterkorn has in the past black-flagged the Avantissimo (A8-based) and the Passat Variant Plus (A6-derived), there is still a lot to be said for a second more practical bodystyle in addition to the four-door notch which is almost compulsory in this segment.