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McLaren turns the corner, posts first profits

By Tim Pollard Motor Industry 04 June 2014 10:48 McLaren Automotive today announced it had broken even for the first time in its brief three-year history, posting a £4.5 million pre-tax profit in 2013. It's great news for the young supercar brand, which until now has lost money every year. McLaren's turnover was £285m, up from £267 in 2012, as it increased production towards its long-term goal of 4000 cars a year.

Russian tech entrepreneur buys EV maker Think

Norwegian electric-car maker Think Global AS, which filed for bankruptcy in June, has reportedly been bought out by a global technology entrepreneur. New owner Boris Zingarevich currently runs investment operations based in St. Petersburg, Russia.

Nissan Leaf gets battery warranty boost

Nissan Motor Co. plans to bolster the warranty of the battery module in its electric Leaf to reassure consumers of its durability. The company intends to notify current owners and dealers early next year that it will make the warranty retroactive to cover all existing Leafs, offering to repair or replace the car’s lithium-ion battery if it loses more than 30 percent of its ability to hold a charge after five years or 60,000 miles.