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EV car maker Aptera shuts down
Fri, 02 Dec 2011Automotive startup company Aptera Motors, promoter of the weirdly styled, three-wheeled 2e electric car, shut down on Friday, saying it was out of money. The company said it was unable to raise funds from private investors that would have kept it going until it received a $150 million loan from the Department of Energy's Advance Technology Vehicle Manufacturing program. "This is a difficult time for everyone connected with our company because we have never been closer to realizing our vision," CEO Paul Wilbur said in a statement.
6th l'argus Design Competition announced
Mon, 04 Jun 2007This week French magazine L'argus de l'automobile launches its 6th Utility Vehicle European Design competition. The contest runs until the 5th November, with the task to design a new commercial vehicle on the theme: "How to optimize urban goods delivery in large cities". Traffic flow is an issue for most of today's cities.
Volkswagen to buy 42 percent of Porsche, full merger planned
Thu, 13 Aug 2009Volkswagen will buy 42 percent of Porsche's sports-car business en route to a full merger by the end of 2011, the companies announced Thursday. VW will pay $4.7 billion for its initial stake in Porsche. It positions the new company to have 10 brands and global sales of 6.4 million, and Volkswagen CEO Martin Winterkorn is likely to lead the entity.