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News watch June 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 30 June 2010• Tesla shares have rocketed 40% on their first day of trading; the company went public this week with the first IPO of an American car company since Ford in the 1950s (BBC News)• GM may sell off its interests in finance arm GMAC and parts supplier Delphi as it seeks to write down its debts (Financial Times)• A Federal judge has approved the $20m sale of a former GM plant in Wilmington to Fisker Automotive; Fisker hopes to build 100,000 cars a year once production hits a peak after launch in 2012. It is using a $529m government loan to fund its launch (Detroit News)Tuesday 29 June 2010• UK business secretary Vince Cable has warned that the car industry is no longer in an emergency – and cannot expect direct government support.

Toyota C-HR Concept revealed as a funky urban crossover

Toyota C-HR Concept revealed as a funky urban crossover Last week we had a tease for the Toyota C-HR Concept and now, with its debut just over a week away at the Paris Motor Show, Toyota has revealed the first couple of photos. Likely based on the Auris – and arriving in 2015 as the Toyota Auris Cross – the C-HR Concept is a funky, high-riding urban crossover aimed at the burgeoning crossover market and destined to slot in below the RAV-4. What the C-HR Concept also does is preview a more cutting-edge design language from Toyota with shallow headlights merging in to the front grill, vertical running lights, big haunches, oversized wheels (which are unlikely to make production) and boomerang-shaped LED tail lights.

Nissan to launch plug-in hybrid & develop fuel cells with Mercedes

Nissan Renault & Mercedes working on 'Green' technology We have been a bit scathing about electric cars, and Nissan’s over-priced LEAF being proclaimed as a viable alternative to the ICE car. But we certainly understand the imperative for car makers to build cars which produce less CO2 (a highly dubious requirement) and use far less fuel (a very solid requirement). Sensibly, Nissan Renault, under Carlos Ghosn, aren’t putting all their eggs in one basket in the quest to make their cars cleaner, greener and more economical.