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Chevrolet Volt fire probe is closed, NHTSA says

U.S. safety regulators said Friday that they've closed an eight-week investigation into the Chevrolet Volt, concluding that the plug-in hybrid's battery doesn't pose a significant fire risk following a crash. In a statement, the National Highway Traffic Safety Administration said it "does not believe that Chevy Volts or other electric vehicles pose a greater risk of fire than gasoline-powered vehicles." The agency said that modifications intended to reinforce the Volt's 435-pound lithium-ion battery pack that General Motors announced on Jan.

News watch August 2010: today's 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-hourTuesday 31 August 2010• HSBC has sold its US car loan business to Spanish bank Santander, for an estimated £2.6bn in cash and assumed debt. The move sees the bank further distance itself from the collapsed US sub-prime market (Financial Times, subsription required) • Toll roads do not improve congestion, according to the Campaign For Better Transport. Its claims M6 toll road operator Midland Expressway Ltd is losing ‘tens of millions of pounds’ each year, while conditions on the original M6 have failed to improve (Campaign for Better Transport) Friday 27 August 2010• Spyker, which bought Saab earlier this year, has posted a €139m loss after tax in the first half of 2010 it announced today (Financial Times)• Fiat CEO Sergio Marchionne says the business is performing strongly in the third quarter – and has ruled out selling Alfa Romeo.

Future products: 3 new vehicles on the way for Jaguar, but don't hold your breath

India's Tata Motors, which bought Jaguar from Ford Motor Co. two years ago, recently approved a product plan that gives Jaguar three new models: a small sports car, an entry-level sedan and a station wagon. They will be the first new vehicles to be fully developed under Tata, but they are all several years away.