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Formula E Spark-Renault electric race cars arrive with the teams at Donnington

The 10 Formula E cars arrive at Donnington No one knows if the Formula E experiment – an ‘F1′ Grand Prix series for electric racing cars – will garner the same sort of interest as its ICE counterpart, but with the first Formula E race scheduled for Beijing in September we’ll soon find out. Ahead of that debut race, Renault and Spark Technologies has delivered the teams their cars – all the same Spark Renault SRT_01E – to the Formula E base at Donnington. After a series of tests at a variety of circuits earlier this year, the Spark Renault SRT_01E passed all its final systems and architecture tests, which has allowed this first batch of the final series cars to be delivered for the teams to practice ahead of the race.

Chrysler Financial gets $1.5 billion federal loan

The U.S. Treasury Department said today it will lend $1.5 billion to a new arm of Chrysler Financial Services LLC so that it can increase lending to vehicle buyers. The five-year loan carries a flexible interest rate.

Saab unions threaten bankruptcy action over unpaid wages

Unions at Saab, which is unable to pay wages to its workers, threatened today to start a legal process that could end in bankruptcy for the iconic brand. The IF Metall and Unionen groups said they would send a formal demand for payment on Monday if their members had not received their wages. "Then the company has seven days to react," IF Metall representative Veli-Pekka Saikkala told Reuters.