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F1 Budget Cap – No two-tier system says Ecclestone

Bernie Ecclestone says there will be no two-tier system in the F1 budget cap row [ad#ad-1] All eyes have gone off the stunning start to this year’s F1 circus with the news that Ferrari, Renault, Red Bull and several other teams have threatened to quit F1 next year in protest at the budget cap proposal and the two-tier system that appears to create. In a nutshell, the FIA – lead by Max Mosley – has imposed a £40 million cap on F1 team expenditure for next year (excluding driver costs, marketing costs and transport), but has said that teams who don’t adhere to the cap can still compete, but will be handicapped. Not surprisingly, the richer teams have objected and, on the face of it, it starts to look as if F1 as we know it is going to bite the dust.

Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.

Renault Fluence ZE electric concept at 2009 Frankfurt motor show

By Ben Pulman First Official Pictures 15 September 2009 12:00 This is the Renault Fluence ZE, a concept car unveiled at the 2009 Frankfurt motor show that previews the forthcoming electric version of the recently revealed Fluence saloon. Along with the Kangoo ZE, it will be one of Renault’s first electric vehicles which go on sale in 2011. It does – there’s energy-saving LED lights, cameras to replace the rear-view mirrors, solar cells on the roof, dash and parcel shelf, and 21-inch wheels.