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Daimler takes 10 percent stake in EV maker Tesla

Daimler AG has acquired an equity stake of nearly 10 percent of California electric car maker Tesla Motors Inc., the German automaker said Tuesday. The two companies have been working together to integrate Tesla's lithium-ion battery packs and charging electronics into the first 1,000 units of Daimler's electric Smart car. Daimler said its stake in Tesla will allow the companies to collaborate even more closely on the development of battery systems, electric drive systems and in individual vehicle projects.

Hyundai Tiburon replacement to be smaller, less expensive

The successor to the Hyundai Tiburon will be a smaller and less expensive car, the company says. The new car will be "positioned below the current Tiburon," said John Krafcik, acting CEO of Hyundai Motor America. The car is expected in 2011.

One lap of the web: Arizona auctions edition

-- Pink was not a color offered for the Chevrolet Corvette -- a fact you're probably aware of. But one example was finished in (a rather nice, we think) shade of pink right at the factory for Harley Earl's wife. Hemmings Daily has the story on this rare car, which is heading to auction this week.