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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.

Volvo C30, Ford Focus fare well in insurance-group crash tests

Four two-door cars received the highest safety rating in frontal crashes and two received that rating for side collisions in recent testing by the Insurance Institute for Highway Safety. The institute gave its "good" rating in side crashes to the Volvo C30 and two-door Ford Focus. Those vehicles, along with the two-door Honda Civic and Chevrolet Cobalt, also received "good" ratings for frontal collisions, the non-profit group funded by auto insurers said.

Porsche announces new Weissach design center and wind tunnel

Porsche is to invest around €150m into its Weissach development facility, including a new design center. The plans also include an electronics integration department and a state-of-the art, on-site wind tunnel, which is hoped will allow the company to realize an holistic approach to efficient design, with a strong focus on aerodynamics. When we spoke with head of Porsche design, Michael Mauer, at this year's Paris motor show, he also alluded to the fact that the Volkswagen Group's – and, more specifically, Walter de'Silva's – recent influence on the German manufacturer was shifting its attitudes: "The Volkswagen Group has a very good understanding of how much freedom a brand needs to keep its characteristics and with [Walter] as 'conductor', I feel a lot of support with design issues within the company," explained Mauer.