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Hennessey Venom GT hits 265.7mph for new world top speed record (+ video)

The Hennessey Venom GT – an American, Lotus Elise-based supercar – has clocked 265.7mph for a new world record top speed for a production car. The world top speed record for a production car has been held by the Bugatti Veyron (well, the Veyron Super Sport) at 258mph, but that’s a ‘limited’ speed for its production cars. The Veyron Super Sport actually hit 267.81mph at VW’s Ehra-Lessian track (it actually hit 269.8mph one way) but because production cars are limited to 258mph the higher speed doesn’t count.

Chevrolet Mi-ray concept gets a new ‘mid-electric' hybrid powertrain

General Motors Co. has unveiled a sporty South Korean-developed concept car that showcases a "mid-electric" hybrid powertrain that can run on electric-only front-wheel drive or tap a gasoline engine to turn the rear wheels for extra power. Dubbed the Chevrolet Mi-ray, Korean for "future," the compact, open roadster gets a carbon fiber body mounted on an aluminum chassis for lightweight performance.

Electric cars get a £500 million government cash boost – but will it get spent?

The new BMW i3 EV (pictured) will be subsidised until 2017. The subsidy of up to £5000 paid to buyers of electric cars has been with us for three years, but it hasn’t had much impact on EV sales and it did look like the government had decided to scrap it all together. But it looks like the coalition has allowed Nick Clegg to have his way with EV subsides in a move that will see £500 million injected in to promoting and supporting electric cars in the UK in the next few years.