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Ford agrees to sell Aston Martin
Wed, 14 Mar 2007Ford Motor Company announced this week it has entered into a definitive agreement to sell Aston Martin, its prestigious UK sports car business. The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait. The sale is expected to close during the second quarter and the transaction values Aston Martin at GBP 479 million ($925 million). As part of the transaction, Ford will retain a GBP 40 million ($77 million) investment in Aston Martin.
Kia Naimo concept
Thu, 31 Mar 2011As the Seoul Motor Show starts today, Thursday 31st March, Kia is debuting the Naimo all-electric concept. The concept takes its name from the Korean word ‘Ne-mo' meaning square shape - something that lends itself to the Naimo's aesthetic. The crossover utility vehicle, or CUV, was conceived by Kia's international design team in Seoul and is characterized by its ‘simple lines and solid, muscular stance.' The simple overall design sports such interjecting details as the wrap-around windscreen and asymmetric sunroof. This mixture of simple and complex is a reference to the common traits of many traditional Korean arts and crafts. The Naimo's interior was designed to evoke a strong sense of tranquility and features hand-crafted materials throughout such as Korean oak on the floor and door cards, with "Han-ji" paper being used for the head lining. Juxtaposing these traditional elements are modern features such as the transparent organic led display instrument panel.
Former Volvo design boss Steve Mattin to join Russia's Lada
Wed, 21 Sep 2011Former Volvo Cars design chief Steve Mattin will head design at the Russian brand Lada. Mattin will start at the Russian automaker on Oct. 1, Lada's owner AvtoVAZ told Automotive News Europe in an email.