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Ford offers $1 million in automotive design scholarships

After the passing of William Clay Ford Sr., Ford has announced that they will honor his memory and his contribution to the automobile with the creation of scholarships for automotive design students. William Clay Ford Sr., the last grandson of Henry Ford, died last week at the age of 88. Ford worked at the company that bears his name for 57 years, serving as chairman of the design committee for 32 of those years.

GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

Ford Fiesta S2000 rally car (2010) first pictures

Ford’s new Fiesta S2000 rally car, a vehicle that will form the basis of the company’s 2011 WRC challenger. Yes. Earlier this year both Ford and Citroen confirmed their continuing participation in rallying, and Ford revealed that it would participate in the S2000 and WRC categories with the Fiesta.