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SAIC launches first Roewe-MG Cup Automotive Design Awards China

The first SAIC Roewe-MG Cup Automotive Design Awards China have been launched, with the slogan "Design Drives Dreams." SAIC is calling for aspiring designers to demonstrate their talents by designing a future sedan, SUV or MPV for Roewe in 2020. With Roewe's position as a high-end marque, SAIC has highlighted that elegance and innovation as key considerations for entrants. The new design competition was officially announced by executive director of SAIC Technical Center Zhang Cheng at the carmaker's Shanghai-based Design Center.

Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.

Watch the 2015 Cadillac Escalade reveal live video

Meet the new 2015 Cadillac Escalade. Following up on last week's interior teaser shot, Cadillac is unveiling their newest luxury SUV at a soiree in New York City where designers are giving the full rundown on the next-generation Escalade. The show starts at 7:30 pm EDT.