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Renault Formula E racer (2013) at Frankfurt motor show

Formula E, the new elite racing series for electric single-seaters, has got the FIA’s backing, confirmed the major cities that will host the races, and now we've finally seen the crucial racecar. This is the Spark-Renault SRT_01E, a joint project developed between Renaultsport and Spark Racing Technology (SRT) which has just been unveiled at the 2013 Frankfurt motor show. There’s also been input from F1 legends Williams and McLaren, plus Dallara (which builds all the cars for the IndyCar series in the US).

BMW leads Audi, Mercedes-Benz in June global luxury-sales race

BMW AG's core brand topped rivals Audi and Mercedes-Benz, selling 134,432 cars worldwide in June, a rise of 12.3 percent over 2010 figures, the company said today. Mercedes sold a record 120,510 units in June, a rise of 6.4 percent, topping Audi, which saw June sales grew 19 percent to 117,650 cars last month. BMW brand's global deliveries, boosted by sales of the new 5-series sedan and X3 SUV, rose 17.8 percent to 689,861 units in the first six months of the year, ahead of Audi's 17.7 percent rise to 652,950 cars.

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.