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Caterham sells F1 team

Caterham The Caterham Formula 1 team has been sold to a consortium of Swiss and Middle-Eastern investors following a poor season so far in 2014. Rumours that Caterham would cut its losses have been rife, since team founder Tony Fernandes threatened to quit if things didn't improve this year. The team is currently bottom in the championship and Fernandes hinted of an exit last week, when he tweeted “F1 hasn't worked, but love Caterham Cars.” Graham Macdonald, Caterham Group CEO: “Firstly I want to thank everyone who was involved in the F1 team for all their hard work and dedication since the team’s first days in 2009.

Press leaving Chrysler, report says

Chrysler Group Deputy CEO Jim Press is planning to leave the company before the end of the year, according to a report Friday by The Wall Street Journal, citing unnamed sources. Press, 62, is expected to leave before December, one of the newspaper's sources said. Chrysler spokesman Gualberto Ranieri declined to comment on the paper's report.

Caterham news at 2009 Tokyo motor show

Caterham surprised Tokyo with the announcement that it will build its first electric sports car. The battery bullet will be either a full electric car or a hybrid and it'll be campaigned in a one-make series in 2011. 'It'll either be a bought-in full electric power pack or we'll buy in an electric hybrid pack and attach it to an existing Caterham engine,' Caterham CEO Ansar Ali told CAR.