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Leonardo DiCaprio launches Formula E racing team

Formula E Star of the silver screen Leonardo DiCaprio has launched his own racing team. Called Venturi Automobiles, the new motorsport outfit will campaign a single-seater racing car in the first season of the Formula E all-electric championship next year. On Bing: see pictures of Leonardo DiCaprioOn Bing: see pictures of Formula EWhat is Formula E?

Fiat 500L gets a helping hand from P Diddy (video)

Sean ‘Diddy’ Combs gives Fiat a helping hand with the 500L Fiat has done well to convince a trendy section of American car buyers that the Fiat 500 is a funky, cute and desirable runaround – especially if you live in the city. But having effectively put all their eggs in the 500 basket, they have the problem of convincing sceptical US car buyers that the much bigger Fiat 500L is an appealing – and much more practical – proposition for families. So Fiat has enlisted Sean Combs (P Diddy, Puff Daddy, Diddy or whatever moniker he’s using this week) to give the Fiat 500L a bit of much needed profile.

Singapore billionaire Peter Lim invests in McLaren Automotive

Singapore billionaire Peter Lim has invested in McLaren Automotive and has taken a spot on the board of directors along with Ron Dennis, Mansour Ojjeh and the Bahrain Mumtalakat Holding Co., McLaren said on Friday. The company declined to reveal the amount of the investment, but privately held McLaren said it is a “significant amount.” More details of the deal will be announced closer to the Singapore Grand Prix. Lim is ranked as the eighth-richest businessperson in Singapore, according to Forbes, and he owns a chain of Manchester United-themed restaurants and bars in Asia.