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News watch February 2012: today's auto industry news

Welcome 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.

Volkswagen reveals Taigun concept

Volkswagen has revealed its intention to join the burgeoning compact SUV ranks with the Taigun concept revealed at the Sao Paulo motor show in Brazil. The four-seat Taigun previews the look and mechanical layout for a new Volkswagen model to be positioned and priced below the popular Tiguan. The new SUV will be launched toward the middle of the decade as a rival to vehicles such as the Mini Countryman, Nissan Juke and Chevrolet Trax.

Jaguar to re-create Lightweight E-type

Jaguar is embarking on its first ever re-creation project, and we think collectors will be pleased. The company plans to build six brand-new Lightweight E-types. They will fill in the missing six chassis numbers from the car's original planned run of 18 units in 1963.