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MG Rover – Serious Fraud Office (SFO) to investigate
Sun, 05 Jul 2009The Rover 75 Coupe - one of MG Rover's last big ideas before its collapse in 2005 MG Rover was bought from BMW for the princely sum of £10 after BMW had had enough of trying to make a viable company out of a business that was still undermined by the woes – and attitudes – of the British Leyland years. That £10 purchase price also came with £425 million in loans from BMW, so MG Rover had a chance. But the collapse, and the subsequent sale of the rights to the MG trademark to SAIC (Shanghai Automotive Industry Corporation), brought accusations that the ‘Phoenix Four’ – Directors and owners of MG Rover – has acted fraudulently when it was revealed they had acquired more than £40 million in pension rights, salary and assets in the intervening five years between purchase from BMW and collapse.
Shortened LX rear-drive platform--Chrysler's midsize car answer?
Mon, 22 Jun 2009Chrysler's new management team is wrestling with its first major product decision, and it's a crucial one: how to replace the slow-selling Chrysler Sebring and Dodge Avenger. One option--a stretched version of Fiat's compact D-Evo platform--faces serious hurdles, and one early proposal--use of an Opel platform--is off the table. Now sources say Chrysler Group LLC could replace its much-maligned mid-sized cars with a model based on the Chrysler 200C EV, a concept shown at the Detroit auto show in January.
Mercedes plans electric version of SLS AMG supercar
Fri, 10 Jul 2009Huge news at Mercedes-Benz: Engineers from its AMG performance-car offshoot are developing a plug-in electric version of the upcoming SLS supercar as part of a broad-based efficiency program to place the automaker at the leading edge of socially acceptable performance-car motoring. Tentatively planned for production in 2015, the new zero-emission supercar draws heavily on the production version of the yet-to-be-fully-revealed SLS scheduled to get its first public outing at the Frankfurt motor show on Sept. 15.