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Fiat taking 35% stake in Chrysler

Fiat S.p.A. and Chrysler LLC confirmed today that the Italian company intends to acquire an initial 35 percent stake in the U.S. carmaker.

Toyota/Scion coupe specs reach the Internet

Specifications for the Toyota FT-86 and Scion FR-S coupes have leaked on the Internet via scanned images of the training manual, posted at www.ft86club.com. If the site's translations are correct, the 2,667-pound coupe will use a 2.0-liter flat-four engine that makes 197 hp at 7,000 rpm and 150 lb-ft of torque at 6,600 rpm. It looks as if the FR-S will come in two trim levels: a higher-spec variant that features a limited-slip rear differential in both manual and automatic versions of the car and a lower-spec model that has only the limited-slip diff with the manual transmission.

Rolls Royce redesigns sought in new competition

Hip Shing Hong Group, Stefano Tordiglione Design and online design platform It's Liquid have launched a competition to redesign a Rolls Royce for a factory-turned-office project in Hong Kong. The contest, focused around the themes ‘Innovation', ‘Energy' and ‘Creativity', is giving the winners the chance to see their design displayed in the lobby of the new building. They will also receive a cash prize of HKD 20,000/EUR 2,000, while the second- and third-placed designers will earn themselves HKD 10,000/EUR 1,000 and HKD 5,000/EUR 500 respectively.