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Jaguar Land Rover raise £500 million to fund expansion
Fri, 23 Mar 2012Jaguar Land Rover raise £500 million Jaguar Land Rover is raising £500 million on the bond market to fund its expansion, including new models and new facilities. Hot on the heels of the Jaguar Land Rover joint venture deal with Chery in China comes the news that Jaguar has dipped in to the private bond market to raise £500 million to help with its bold and bullish plans to make JLR a major world player in the premium vehicle sector. JLR plans to invest £1.5 billion a year on expansion and is making sure its coffers can cope by issuing £500 million of senior notes due in 2020, with the net proceeds of the bonds being used for general corporate purposes.
Lajdziak replaces Schembri as the president of Smart USA
Tue, 05 Jan 2010Jill Lajdziak, Saturn's former top executive, was named president of Smart USA just three days after starting with the company. David Schembri, who previously held the job, will take an unidentified position with the Penske Automotive Group, which distributes the Smart ForTwo microcar in the United States, the company said. "Dave will transition into retail operations at Penske Automotive Group with our dealerships," said Penske spokesman Anthony Pordon.
Audi S5 Sportback revealed
Fri, 28 Aug 2009Audi are bringing the S5 Sportback to Frankfurt The S5 Sportback gets Audi’s 3.0 litre supercharged lump putting out 329bhp and delivering 324lb/ft of torque. Which will give the S5 Sportback performance of around 5.2 seconds to 60 mph. This change from big V8s is a shame, but it does result in better economy – estimates for the S5 S/B are pushing on 30mpg – and the reduced emissions help car makers like Audi lower their average emissions, and important consideration these days.