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Jaguar and Williams F1 to partner on C-X75 hybrid supercar technology

Jaguar is teaming up with Williams F1 to put a limited run of $1.1 million C-X75 hybrid-powered supercars into production in late 2013 with a crucial partnership that links two storied British companies to develop cutting-edge technology. Jag and Williams have been working on a production plan for the C-X75 since January and will share development over the next few years. “Williams has expertise in composite structures, advanced powertrains, aerodynamics, low-volume production and speedy production development,” said Bob Joyce, Jaguar Land Rover's chief engineer.

Saab turns down takeover offer from Chinese investors

Swedish Automobile, owner of Saab, has turned down a takeover offer from China's Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. Youngman and Pa Dang signed a nonbinding memorandum in July to take a combined 53.9 percent stake in Swedish Automobile for about $338 million.

IndyCar Hot Wheels race into stores

IndyCar-themed Hot Wheels will be hitting stores this month. The Indy Racing League and Mattel Inc., the maker of Hot Wheels, have agreed on a four-year deal that will produce a lineup of toy cars featuring teams and drivers. A 1:64-scale Hot Wheel is $4.99, with a 1:24 version that costs $24.99.