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News watch February 2012: today's auto 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-hour Wednesday 29 February 2012• Following on from yesterday's news of a cross-holding between PSA and GM, it now appears that Peugeot Citroen would offer a €1bn rights issue to create cash and strip back jobs as part of its proposed alliance with GM (Automotive News Europe)  • The Bloomberg Riskless Return Ranking, a survey of investor performance, suggests that Kia has outperformed all 22 other car makers with a risk-adjusted return of 9.2% in the past five years. Second highest was Hyundai, whose shares rose 4.8% in the same period (Bloomberg)• Fisker has a new chief executive officer, as founder Henrik Fisker moves to executive chairman. The new boss is Tom LaSorda, the former top man at Chrysler pre-bankruptcy (Fisker)Tuesday 28 February 2012• General Motors is in talks to buy a 5% to 7% stake in PSA Peugeot Citroen, according to reports by news agencies Bloomberg and Reuters.

Solar car built by Cambridge University crashes

The annual World Solar Challenge is taking place right now. 38 teams from all round the globe are racing 3,000km (1,864 miles) across Australia using energy from the sun alone. Unfortunately, the planned entry from the UK’s very own Cambridge University isn’t amongst them – because five days before the start the above happened.

Citroen DS9 (which we thought was the Citroen DS6) uncovered

Is this the Citroen DS9 and not the DS6? The new range-topping Citroen DS (which is probably the Citroen DS9) has been photographed undisguised in Paris. Just a few days ago we published a tease photo for a new DS Citroen, which we expected to be the new DS6.