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Victor Muller sells Spyker sports cars to CPP

Supercar maker Spyker is to be sold. Coventry-based coachbuilder CPP has announced a memorandum of understanding (MOU) to buy Spyker Cars from Spyker Cars N.V, the holding company which owns Spyker and Saab. No. Saab remains under the ownership of Dutch company Spyker Cars N.V. This sale is of Spyker, the manufacturer of flamboyantly detailed mid-engined supercars. CPP has been supplying chassis and body panels for Spyker since the brand was relaunched in 2000, and completed an agreement to handle full manufacturing of the current range in 2009 – the production of Spyker cars moved from the Netherlands to Coventry in 2010.   The MOU, valued at €32m, will mean that CPP Global Holdings Ltd will become manufacturer and owner of Spyker – €15m will be paid straight away, with the remaining €17m paid over a six year 'earn-out' period.

60mph M1 motorway speed limit proposed

The government has announced a proposal to lower the motorway speed limit from 70mph to 60mph over a 32-mile stretch of the M1. The plan, which has just been put out to consultation, would lower the speed limit to 60mph between junction 28, near Matlock in Derbyshire, to junction 35a, north of Rotherham – in a bid to improve air quality by reducing vehicle emissions. On Bing: see pictures of motorway air quality Find out how much a used low CO2 car costs on Auto Trader The current proposal would see the Highways Agency put the 60mph restriction in place between 7am and 7pm, seven days a week.

Gibbs launches new high-speed amphibian vehicles

Michigan-based Gibbs Technologies has released two new high-speed, commercial-grade amphibian vehicles, named the Phibian and the Humdinga. The Phibian is a 30-foot-long, nearly 12-foot-tall craft capable of highway speeds on land and more than 30 mph (26 knots) in the water. Constructed mainly of carbon fiber, the Phibian can hold up to 15 people, including a crew of three.