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Jaguar Land Rover raise £500 million to fund expansion

Jaguar Land Rover raise £500 million Jaguar Land Rover is raising £500 million on the bond market to fund its expansion, including new models and new facilities. Hot on the heels of the Jaguar Land Rover joint venture deal with Chery in China comes the news that Jaguar has dipped in to the private bond market to raise £500 million to help with its bold and bullish plans to make JLR a major world player in the premium vehicle sector. JLR plans to invest £1.5 billion a year on expansion and is making sure its coffers can cope by issuing £500 million of senior notes due in 2020, with the net proceeds of the bonds being used for general corporate purposes.

'Ender's Game' Audi fleet shuttle quattro concept development revealed [w/Video]

Audi has released a short video and pictures exploring the development of the fleet shuttle quattro from the new sci-fi blockbuster 'Ender's Game'. The concept, presented as a 1:4 illuminated scale model at the movie's premiere at the Chinese Theatre in Los Angeles, was first announced in August and is Audi's first car completely designed on a computer. During filming the actors drove an Audi A7 Sportback before Digital Domain – responsible for the film's special effects – used computer-generated imagery to transform it into the digital fleet shuttle Quattro in post-production.

Caterham announces cut-price Seven 160 sports car

BRITISH sports car maker Caterham has announced a new low- priced version of its long-running Seven model. Dubbed the Seven 160, the new model starts at a measly £14,995 in component form or £17,995 fully built. Under the bonnet there is a turbocharged 660cc Suzuki engine and although this only offers up a modest 80bhp, that's still enough to power the lightweight Seven from 0-60mph in 6.5 seconds.