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Shelby raffles off last 50th-anniversary Cobra

Shelby is celebrating its 50th anniversary in style, first at the Detroit auto show with a few black-and-gold Shelby Mustangs, and now at the Barrett-Jackson auction in Arizona with the last example of the 50th-anniversary Shelby Cobra. The car won't be sold to the highest bidder though; it will be raffled. Tickets cost $25 apiece or five for $100.

Lotus evolves with moving art

WITH VIDEO -- With five new concepts dotting its stand at the Paris motor show, Lotus demonstrated that it knows a bit about metamorphosis. Now, the automaker has collaborated with French artist Gerard Rancinan and writer Caroline Gaudriault for a moving art display for a VIP event in Los Angeles. Rancinan specializes in art of the human form while Gaudriault is a journalist by trade who has worked in Japan, Australia and France.

Toyota tests chips that improve hybrid efficiency by 10 percent

Toyota announced on Tuesday that it has developed a new semiconductor, claiming it can boost fuel efficiency in hybrid cars by an impressive 10 percent. The semiconductors manage the flow of electricity through the power-control unit that connects the battery to an electric or hybrid car's motor and generator. The newly developed semiconductors are said to consume only a tenth of the energy of today's chips, while allowing the power-control unit to be 80 percent smaller.