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Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

Going, going, gone: Ford sells Volvo to Geely

Little more than a year ago, the name Geely would happily slip under the radar of most. Today, the Chinese company completed its purchase of Volvo from Ford. Geely stumped up a $1.3 billion in cash for the Swedish brand and issued a $200m note.

Ellesmere Port's bid to build Ampera hits snags

By Rob Golding Motor Industry 09 October 2009 15:02 Prime minister Gordon Brown’s personal crusade to get Vauxhall's version of the Chevrolet Volt petrol-electric plug-in hybrid – the Ampera – built in Britain's Ellesmere Port factory in 2012 is a dream delayed, CAR can disclose today.News that the UK Astra plant is the best in Europe, that the Astra's Delta platform will underpin the Ampera, and that Volt will be on US sale from 2010 had been taken to mean that Vauxhall would be churning out the cars in the north west within three years.But the prospect of an electric car industry growing up around the run-down Merseyside manufacturing site is not imminent, CAR has learned.'No Ampera to be built in Europe before 2015'Vauxhall insiders have made it clear that the car to be known as the Vauxhall/Opel Ampera in Europe will be an import from the US for at least five years. One senior planner told us: 'The US will be the sole source of Amperas until at least 2015.'Bob Lutz, GM's former product supremo who recently came out of retirement as a PR, said that the low value of the dollar made the US an ideal site for the manufacturing of export cars. And with forecast sticker prices of the range-extender electric car standing at a scary £35,000+, every price saving is vital to its marketability.The European market also needs time to get its electricity recharge infrastructure in place before it is worth making cars onshore in volume, GM high-ups point out.