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General Motors to invest more than $850 million to build new V8s

General Motors Co. said Tuesday it will invest more than $850 million to upgrade five North American factories to make its next-generation V8 engines more fuel efficient. The new V8s will differ from the current versions by using direct injection and a new combustion system, spokeswoman Sharon Basel said.

Chris Evans buys Ferrari 250 GT California for £5m

By Tim Pollard Motor Shows 19 May 2008 10:36 The ginger motormouth is a well known fan of scarlet sports cars, but even we were surprised when UK broadcaster Chris Evans splashed out £5 million on an immaculate 1961 Ferrari 250 GT SWB California Spyder. Evans blew €7,040,000 on the black sports car, the thirteenth of just 56 built. It was the inspiration for Ferrari's latest 2+2 GT, the new California unveiled in May 2008.The car was sold at this weekend's second annual Ferrari Leggenda e Passione event at Maranello, the specialist auction of all things Ferrari and Maserati.

Peugeot RD Concept at Shanghai

  The Peugeot RD Concept - winning entry in a competition to design a car of the future. [ad#ad-1] No, its not a concept that’s likely to go on sale very soon, but it is in fact the winning entry in Peugeot’s competition to produce a futuristic car. The competition was launched at last years Beijing Motor Show, and asked budding designers to ‘Imagine the Peugeot in the Worldwide Megalopolis of tomorrow’.