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Ford agrees to sell Aston Martin
Wed, 14 Mar 2007Ford 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.
Third Tesla Model S catches fire
Thu, 07 Nov 2013Update: According to an Automotive News report, "NHTSA said it will contact local authorities about the latest fire 'to determine if there are vehicle safety implications that merit agency action.'" The agency had previously backed away from an investigation after determining that vehicle defects were not to blame for the fire in early October. Just after Tesla Motors reported a $38 million third-quarter loss and within a few weeks of two other car fires, a third Model S sedan reportedly burned on the highway near Smyrna, Tenn. The Tesla Motors Club forum supplied photos of the crash, which occurred around 1:30 Wednesday afternoon, in addition to intense speculation on the cause of the fire.
Koenigsegg's craziest supercar yet debuts at Geneva
Mon, 03 Mar 2014Here's what you need to know about the Koenigsegg One:1. It weighs 1,360 kilograms; it produces 1,360 hp. One horsepower per kilogram, which is why mad scientist Christian Von Koenigsegg is absolutely justified in bragging about it: it's the world's first "mega car," he said.