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Formula E HQ set for Donington

THE NEW global all-electric racing car series Formula E is to have its headquarters at England’s Donington Park circuit. Construction of the multi-million pound facility has started, with a view to making the facility the home of testing and development for the series’ battery-powered cars. There will be ‘state-of-the-art’ facilities for all 10 Formula E teams as well as workshops, offices and stores.

Michelin Challenge Design 2009 Finalists Announced

Have you ever dreamed about having your vehicle designs featured at an international auto show? Beginning January 11, the 32 designers below will be living that dream when their original work is unveiled in the Michelin Challenge Design exhibit at the 2009 North American International Auto Show. Top automotive designers serving on the Michelin Challenge Design Jury selected the work based on the theme 'BRAVE+BOLD: America's Next Iconic Vehicle'.

Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.