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Norwegian EV maker Think files for bankruptcy
Thu, 23 Jun 2011Tiny electric car maker Think Global AS filed for bankruptcy today in its home market of Norway after attempts to keep the company going through recapitalization and restructuring failed, the company said in a statement. It is the fourth time Think has collapsed financially in its 20-year history. "We needed some additional funding and although we had interested investors they were not able to come to the table quickly enough," Think spokesman James Andrew told Automotive News Europe.
Pfadt Race Engineering Cadillac ATS hits 162.5 at Texas Mile
Wed, 10 Apr 2013Pfadt Race Engineering is claiming it has the world's fastest Cadillac ATS after clocking 162.5 mph in the standing mile at the latest Texas Mile event in Beeville. Pfadt used the turbocharged four-cylinder ATS as a starting point and upgraded the turbo, intercooler, suspension and exhaust. Pfadt says the engine improvements are responsible for adding more than 100 extra hp in the lightweight luxury sedan, which starts with 272 hp.
General Motors names Mary Barra to head global product development
Thu, 20 Jan 2011General Motors named Mary Barra head of global product development on Thursday, succeeding Tom Stephens, who was named global chief technology officer of the automaker on Wednesday. An engineer, Barra, 49, is the first woman to hold the top product development job at GM. Since 2009 she has served as vice president of global human resources for GM--a key post as the automaker restructured and emerged from bankruptcy protection.