Polaris Brake Caliper (1930566) on 2040-parts.com

Fisker Karma drives Laguna Seca

The Fisker Karma out testing at Laguna Seca But unhappy as we are at Cars UK with the world’s obsession with all things green – and hybrid / electric cars in general – even we have to admit that some of the work that’s going on does impress us. The Tesla Roadster is a great achievement – if madly expensive for what it is (an electric Lotus) – and the work Koenigsegg are doing with the Quant is very exciting. But one company that is efficiently going about putting together a workable, high performance car is Fisker, who have been working on their electric saloon car – The Fisker Karma – for less than two years.

News watch February 2012: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 29 February 2012• Following on from yesterday's news of a cross-holding between PSA and GM, it now appears that Peugeot Citroen would offer a €1bn rights issue to create cash and strip back jobs as part of its proposed alliance with GM (Automotive News Europe)  • The Bloomberg Riskless Return Ranking, a survey of investor performance, suggests that Kia has outperformed all 22 other car makers with a risk-adjusted return of 9.2% in the past five years. Second highest was Hyundai, whose shares rose 4.8% in the same period (Bloomberg)• Fisker has a new chief executive officer, as founder Henrik Fisker moves to executive chairman. The new boss is Tom LaSorda, the former top man at Chrysler pre-bankruptcy (Fisker)Tuesday 28 February 2012• General Motors is in talks to buy a 5% to 7% stake in PSA Peugeot Citroen, according to reports by news agencies Bloomberg and Reuters.

GM's Lutz to retire May 1

General Motors Vice Chairman Bob Lutz plans to retire from the automaker effective May 1, according to a statement released by GM on Wednesday. Lutz, 78, had been serving as a senior adviser to GM Chairman and CEO Ed Whitacre after shelving retirement plans to take charge of the automaker's marketing after it emerged from bankruptcy in July 2009. An outspoken executive who both challenged global warming and championed GM's all-electric Volt, Lutz is credited with revitalizing GM's product development efforts after being hired by former GM CEO Rick Wagoner in 2001.