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£10 million cash boost for Lotus

Business secretary Vince Cable has visited Lotus’ Norfolk headquarters today, where he announced the company would be awarded £10.44 million from the Regional Growth Fund. The money will be used for research and development of products, as well as staff training. The sports car company expects to create 313 full time jobs to support production over the coming years.

Porsche Panamera S E-Hybrid qualifies for £5,000 taxpayer incentive

Porsche Panamera S E-Hybrid qualifies for £5,000 taxpayer incentive When Porsche revealed the first facelift for the Panamera back in April, they also revealed the Panamera S E-Hybrid, a plug-in hybrid with the power of a V8 and the fuel consumption of a city car. It’s a brilliant demonstration of how car makers have worked their way round the daft CO2 tax regimes designed to strangle the marketplace for powerful, luxury cars by using technology to attain far lower official emissions figures than ever. In the case of the Panamera S E-Hybrid that means a plug-in hybrid with a 94bhp electric motor to boost the power from the 3.0 litre V6 to 410bhp.

Jaguar to develop luxury brand with China’s Chery to get NDRC approval

A Jaguar-based Chery for China on the way Reports from China say that Jaguar is to develop a new luxury sub-brand with putative Chinese partners Chery Automobile to get NDRC approval for a Joint Venture. We’ve reported on speculation about Jaguar Land Rover’s efforts to form a joint venture in China to gain access to the most important car market in the world quite a bit this year. And now it looks as though that joint venture is getting closer, with reports that Jaguar and Chery Automobile are to develop a new luxury brand for China based on Jaguar’s cars.