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AutoWeek Design Forum: McLaren evolves with carbon fiber

McLaren Automotive design boss Frank Stephenson detailed his company's transformation from strictly racing to producing road-going models on Thursday at the AutoWeek Design Forum. McLaren is launching the highly anticipated MP4-12C this year, and the company has been hard at work refining the use of carbon fiber, which it pioneered in the iconic McLaren F1. The company cut the amount of time required to design a carbon-fiber tub from 3,000 hours for the F1 to a mere four hours for the MP4-12C.

Porsche to add 1,000 employees

To keep pace with its planned model expansion and sales targets, Porsche AG will add more than 1,000 employees by 2015, Automotive News Europe has learned from Volkswagen Group sources. About 500 jobs will be added for production of Porsche's new compact SUV, codenamed the Cajun, which will go on sale in 2013 in Europe and in North America about six months later. Porsche's supervisory board will make a decision on the production location of the Cajun in mid-March.

Ford bets customers will pay premium prices for the Fiesta

Ford Motor Co. will charge more than $23,000 for a fully loaded Fiesta, a new car smaller than the Focus. Ford thinks consumers are ready to pay premium prices for small cars, which long have been dominated by budget shoppers.