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Daimler agrees to unload remaining Chrysler stake
Mon, 27 Apr 2009Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.
Porsche 959 prototype to cross the block at Barrett-Jackson
Fri, 11 Jan 2013When Professor Helmuth Bott arrived at the fledgling Porsche sports-car company in 1952, he was in his late 20s. The young engineer's first assignment was setting up a gearbox test stand for the company's new all-syncromesh Type 519 transaxle. Thirty-one years later, he gave the go-ahead for the development of a car that was to be the ultimate bleeding edge of what Porsche knew about building a rear-engined sports car.
Voxan Wattman is world's most powerful electric motorcycle
Wed, 04 Dec 2013It would be fair to say that we're a little bit in love with the Voxan Wattman electric motorbike. There's just something wonderfully cutting-edge about the design, and that's before you start peering beneath its chiselled skin. If we were looking for a motorcycle to make an escape silently across the border and into Switzerland, this is surely the bike to do it on.