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Fisker about to be bought by Volvo’s Chinese owner Geely?

It’s reported that China’s Geely – which bought Volvo from Ford – is about to take a majority stake in Fisker Automotive. But Fisker has run in to big problems when its battery supplier - A123 Systems – went bust leading to Fisker production grinding to a halt. That has now been resolved with China’s Wanxiang Group buying up A123 Systems and it looks like Fisker is heading East too with Geely set to grab a majority shareholding.

Designed in Italy, Engineered in China

"The soul of our designing is in Italy," said Silvio Petro Angori, CEO of Italian design house Pininfarina S.p.A. "We will do all styling in Italy – we will not do that in China." But in order to cater to the growing number of contracts from Chinese automakers, Pininfarina will soon begin engineering and product development in China with a center in Shanghai's suburb of Anting. Pininfarina has been working with Chinese automakers since 1996.

Porsche reports big drop in sales

Well, it’s not exactly a surprise, given the doom and gloom in the industry at the moment, but Porsche has just reported a 27% drop in sales, down to 34,000 units, over the last six months. As you would expect, some models fared worse than others. The recently updated Porsche 911, which has had mid-cycle tweaks including the new PDK ‘box, held up pretty well.