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Ford and Geely agree on Volvo sale, could finalize deal in early 2010
Wed, 23 Dec 2009Ford expects to sign a deal to sell its Volvo car unit to China's Zhejiang Geely Holding Group by the first quarter of 2010 and close the deal in the second quarter, the U.S. automaker announced today. Ford said that all of the deal's key commercial terms have been settled.
U.S. is seeking a record $16.4 million fine against Toyota
Mon, 05 Apr 2010The National Highway Traffic Safety Administration is seeking a historic $16.4 million civil penalty against Toyota for failing to notify the agency in a timely fashion of a throttle problem that could cause unintended acceleration, Transportation Secretary Ray LaHood said on Monday. The amount is the maximum penalty and would be the most NHTSA has levied against an automaker. The agency said Toyota waited at least four months to alert it of the potential pedal problem.
Red Bull Racing's X2014 concept car to feature in GT6
Wed, 04 Dec 2013Red Bull Racing has revealed its X2014 concept car that will feature in the upcoming Gran Turismo 6 racing game. The Formula 1 team's chief technical officer Adrian Newey worked alongside Polyphony Digital to develop the road car, which is obviously very much inspired by F1 car design. Elements such as the F1 car nose and low-hanging front spoiler are proof of this, although the design features headlamps and fenders surrounding the tires.