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News watch February 2012: today's auto industry news
Wed, 29 Feb 2012Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 29 February 2012• Following on from yesterday's news of a cross-holding between PSA and GM, it now appears that Peugeot Citroen would offer a €1bn rights issue to create cash and strip back jobs as part of its proposed alliance with GM (Automotive News Europe) • The Bloomberg Riskless Return Ranking, a survey of investor performance, suggests that Kia has outperformed all 22 other car makers with a risk-adjusted return of 9.2% in the past five years. Second highest was Hyundai, whose shares rose 4.8% in the same period (Bloomberg)• Fisker has a new chief executive officer, as founder Henrik Fisker moves to executive chairman. The new boss is Tom LaSorda, the former top man at Chrysler pre-bankruptcy (Fisker)Tuesday 28 February 2012• General Motors is in talks to buy a 5% to 7% stake in PSA Peugeot Citroen, according to reports by news agencies Bloomberg and Reuters.
Hyundai Veloster C3 Roll Top Concept: LA Auto Show
Wed, 28 Nov 2012Hyundai has unveiled a convertible Veloster Concept – the Hyundai Veloster C3 Roll Top Concept – at the Los Angeles Auto Show. Why tarpaulins? Because the rolling roof on this Veloster – which rolls backwards and forwards – is made from the side tarpaulin used on an HGV.
Chrysler unplugs Envi electric-vehicle division
Mon, 09 Nov 2009Envi, the team of engineers charged with developing electric vehicles for Chrysler, has been disbanded. A spokesman told Reuters that development of electric cars will be integrated into the company's traditional structure. “Envi is absorbed into the normal vehicle-development program,” Chrysler spokesman Nick Cappa told the wire service.