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Daimler takes 10 percent stake in EV maker Tesla

Daimler AG has acquired an equity stake of nearly 10 percent of California electric car maker Tesla Motors Inc., the German automaker said Tuesday. The two companies have been working together to integrate Tesla's lithium-ion battery packs and charging electronics into the first 1,000 units of Daimler's electric Smart car. Daimler said its stake in Tesla will allow the companies to collaborate even more closely on the development of battery systems, electric drive systems and in individual vehicle projects.

Faurecia opens new Shanghai Technical Center

Faurecia has opened a new technical center in Shanghai, China, which will also serve as its Chinese headquarters. The automotive equipment supplier wants to reinforce its research and development capabilities and engineering localization in the world's largest automotive market. The new 18,000 square meter Faurecia China Tech Center is made up of the Training Center and the Tech Center, which includes an industrial design facility, two showrooms and various prototype workshops alongside five labs for testing, acoustics, airbag, complete seat and quality inspection.

'Camaro Brothers' ride on

It was supposed to be a nice, mild-mannered going-to-school car that twin brothers Tom and Kent Ng would share. But it didn't take long for the Houston residents' hot-rod tendencies to get the better of them and raise the ire of their father. "We tried to modify it immediately," Tom said.