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MINI Paceman: First production car photo leaks

With the production version of the MINI Paceman due to debut at Paris 2012 we have the first leaked photo of MINI’s Evoque challenger. It could be argued that the Range Rover Evoque has created a new premium SUV niche all for itself, but that’s not going to stop MINI going after a piece of the action. So the MINI Paceman Concept from the 2011 Detroit Motor Show is going in to production as the stylish coupe version of the MINI Countryman, and MINI has been busy teasing it ahead of the Paris reveal.

GM, SAIC to develop electric cars in China

General Motors will work with its joint-venture partner, Chinese carmaker SAIC Motor Corp., to develop parts and vehicle platforms for electric cars, the companies said on Tuesday. The automakers will use their existing joint venture in Shanghai, the Pan Asia Technical Automotive Center, as the home base to develop the electric car--aimed primarily at the Chinese market. GM says it plans to use the platform, components and technology from the project to build electric cars around the world for various markets.

GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.