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Henrik Fisker resigns from Fisker Automotive
Wed, 13 Mar 2013Henrik Fisker, founder and executive chairman of struggling plug-in hybrid vehicle maker Fisker Automotive, has resigned. In an email today to Automotive News, Henrik Fisker, referring to himself in the third person, said: "The main reasons for his resignation are several major disagreements that Henrik Fisker has with the Fisker Automotive executive management on the business strategy." Fisker confirmed his resignation in a phone interview and declined to comment further. Tony Posawatz, who became president and CEO of the company in August, said this morning that he had just been made aware of the resignation.
Ford F-150 SVT Raptor gets turned into 'The Beast'
Mon, 24 Feb 2014Looks like we've got ourselves a good ol' fashioned truck horsepower war brewing. Hot on the heels of the debut of the Chevrolet Silverado-based Reaper by Lingelfelter and the Callaway-tuned Chevrolet Silverado, German tuner Geiger has brought out their version of the Ford F-150 SVT Raptor dubbed "The Beast." Apparently, the company felt that the standard Raptor just didn't produce enough power, but their take on the already mental truck is slightly different from Hennessey's approach. Geiger has added a 2.9-liter supercharger to the 6.2-liter V8, bringing the horsepower output up from 411-hp to 572-hp.
News watch February 2012: today's auto industry news
Wed, 29 Feb 2012Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 29 February 2012• Following on from yesterday's news of a cross-holding between PSA and GM, it now appears that Peugeot Citroen would offer a €1bn rights issue to create cash and strip back jobs as part of its proposed alliance with GM (Automotive News Europe) • The Bloomberg Riskless Return Ranking, a survey of investor performance, suggests that Kia has outperformed all 22 other car makers with a risk-adjusted return of 9.2% in the past five years. Second highest was Hyundai, whose shares rose 4.8% in the same period (Bloomberg)• Fisker has a new chief executive officer, as founder Henrik Fisker moves to executive chairman. The new boss is Tom LaSorda, the former top man at Chrysler pre-bankruptcy (Fisker)Tuesday 28 February 2012• General Motors is in talks to buy a 5% to 7% stake in PSA Peugeot Citroen, according to reports by news agencies Bloomberg and Reuters.