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Ford agrees to sell Aston Martin

Ford Motor Company announced this week it has entered into a definitive agreement to sell Aston Martin, its prestigious UK sports car business. The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait. The sale is expected to close during the second quarter and the transaction values Aston Martin at GBP 479 million ($925 million). As part of the transaction, Ford will retain a GBP 40 million ($77 million) investment in Aston Martin.

Beanz Meanz More Eco-Friendly Future Fords

THE car industry is full of interesting and unusual business partnerships, but this latest tie-up between Ford and Heinz promises to be one of the more intriguing. Far from seeking to produce 57 varieties of any particular new Ford model, the two firms are exploring the use of tomato fibre to develop a sustainable composite materials for use in vehicle manufacturing. For example, boffins believe that dried tomato skins could become the wiring brackets in future Ford vehicles or the storage bin a customer uses to hold coins and other small objects.

Volvo confirms big production increase for V60 Plug-in Hybrid

Volvo has been building around 150 V60 Plug-ins a week at its facility in Torslanda – alongside the regular V60, V70, S80 and XC90 – but that is now set to be upped to 282 cars a week for the rest of 2013, with plans to build at least 10,000 in 2014. The fact is that the V60 is a very appealing estate car already, and bolting a plug-in hybrid setup has turned it in to a big hit in showrooms because the barking mad official economy and emissions system bestows the V60 plug-in with emissions of just 48g/km, making it a real no-brainer in countries where governments blindly tax cars based on their official emissions. That means countries like Holland, where Volvo has received more than 3,000 orders for the V60 Plug-in, and the UK are lapping up the hybrid offering from Volvo as a way to escape big taxes and still have a swift (0-62mph in 6.1 seconds), appealing and stylish car.