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D-day for General Motors: GM files for bankruptcy

By Tim Pollard Motor Industry 02 June 2009 06:57 General Motors today faces the humiliation of collapsing into bankruptcy. It marks the 1 June deadline imposed by US president Barack Obama for the General to sort out its business – or seek protection from creditors in the bankruptcy courts. As we’re all too painfully aware, GM has been unable to perform miracles, triggering one of the greatest industrial collapses seen in American corporate history.

IDEA Institute acquired by Quantum Kapital

Turin-based automotive design, modeling and engineering firm IDEA (Institute of Development in Automotive Engineering) has been sold to Quantum Kapital AG, an investment company with an industrial emphasis based in St. Gall, Switzerland. The transaction is expected to be completed in the next few weeks.

Kia ED

The first official photos of the new Kia ED 5-door hatch were released at the time of the British Motor Show. As part of Kia's continuing effort to establish the brand in the European market, ED jumps straight into the hottest and the most competitive cluster of the European C-segment. Previewed as the Cee'd concept at the 2006 Geneva Motorshow, ED is not only looking to take on the likes of Ford Focus, Renault Megane and VW Golf, but also aims to lift the brand image and appeal to 'badge conscious' European consumers.