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Mitsubishi closes California design studio
Wed, 11 Mar 2009Mitsubishi Motors Corp. closed its design studio in Cypress, CA last Thursday – just one month shy of its 25th anniversary. A result of the recent downturn in the global economy, the closure of the facility will eliminate 33 design positions as part of a personnel cull that has seen 60 people within the automaker's US operations lose their jobs.
Ford agrees to sell Aston Martin
Wed, 14 Mar 2007Ford Motor Company announced this week it has entered into a definitive agreement to sell Aston Martin, its prestigious UK sports car business. The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait. The sale is expected to close during the second quarter and the transaction values Aston Martin at GBP 479 million ($925 million). As part of the transaction, Ford will retain a GBP 40 million ($77 million) investment in Aston Martin.
Lexus LS (2012): the full set of new photos
Tue, 31 Jul 2012Lexus has fully revealed the new LS, after last week's Facebook teaser. Two different LS models will be available again - the LS460 and LS600h - but there's now F-sport trim available for the first time, for those who want to give their LS a more sporting look. The LS will go on sale later in 2012, after its worldwide in-the-metal debut at the Moscow motor show.