Geely secures financing worth US$ 2.1 billion for Volvo deal
Geely, the Chinese company which is set to take over struggling Volvo from Ford has secured financing for the purchase. The financing is said to be worth US$ 2.1 billion but the source of the sum was not disclosed. With this Geely is likely to seal the acquisition by end of this month.
Reports are also suggesting the Geely will maintain Volvo’s production hub in Sweden however some are saying the the Chinese company will shift production to China. If this happens about 16,000 workers in Sweden may lose their jobs. As for setting up production in China, a 300,000-unit production is expected annually. This number is almost double Volvo’s current output worldwide.
A new Chevrolet previewed via patent filings: Is this the 2012 Malibu?
Above is an image that was submitted to the US patent office. Unfortunately we only know that it is a Chevrolet with four doors. It can either be a mid or a full-sized sedan and reports worldwide are suggesting that it could possibly be the 2012 Malibu since it is about time for a new version to show up.
However it could be something else all together. It looks pretty sharp based on the image above and I can’t wait to look at the final product. An image that shows us the rear end reveals Camaro-inspired taillights. Please click on the source link below to view more images.
Ralliart scales down operations – ceases motorsport support and product development
Here’s some sad news. Mitsubishi’s sporting arm Ralliart is the latest to succumb to the tough new environment brought by the global economic downturn and is winding down operations. This means that Ralliart will no longer lend support to motorsport customers and privateers. Also halted is the planning, development and selling of Ralliart products.
“The business circumstance surrounding our company radically became worse and so, this time we have reached the conclusion that we Ralliart Inc, would scale down our business activities as of the end of March 2010,” according to Ralliart Inc’s president Masao Taguchi, in a “goodbye note” to the firm’s customers. Read it for yourself after the jump.
Mitsubishi has been progressively withdrawing from motorsports. Its works team abandoned the WRC back in 2005, and the company left the Dakar Rally and all rally raid events last year. Mitsubishi is the most successful manufacturer in the Dakar with 12 wins in 26 appearances, including a record seven back-to-back victories from 2001 to 2007 but failed to catch up with diesel engine development pacesetters Volkswagen, which is today’s team to beat in “the world’s toughest race”.
Eight ‘Naomi for Haiti’ Evoras auctioned for €1.4 million!
Lotus has confirmed that eight ‘Naomi for Haiti’ Evoras have been auctioned off for €1.4 million. The proceeds from the auction will be channelled to the White Ribbon Alliance which is an organization that is taking part in the rebuild of Haiti’s healthcare system.
These cars were designed by Lotus’ design chief Donato Coco with input from Naomi Campbell. All cars were auctioned off at the Fashion for Relief charity event.
Next-Gen S-Class with Plug-in Hybrid Technology could return 2.9 L/100km
According to a recent report by Car and Driver the next generation Mercedes S-Class will have a plug-in hybrid variant and it could offer a fuel consumption figure of 2.9 liters per 100 kilometers which is equivalent to about 81 miles to the gallon.
The company’s development director Dr. Thomas Weber told the publication that the ‘green’ S-Class would use a 3.0 liter petrol V6 (with direct injection with piezo injectors) and a 44 kW electric motor. The vehicle would be able to run in pure electric mode for about 30 kilometers at speeds of up to 109 km/h. Pictured above is the Mercedes-Benz Vision S 500 Plug-in Hybrid Concept.
207 hatch-based Peugeot Hoggar revealed
This is the Peugeot Hoggar compact pick-up truck. It is specially made for the South American market and it is based on the domestic-market 207 hatchback which isn’t the same 207 we see in Europe. This 207 heavily based on the previous 206.
This pick-up will be launched in Brazil sometime in May and it will be offered with two engine options including a 1.4 liter and a 1.6 liter. Both engines feature fuel-flex technology. It has a load capacity of 1,151 liters and a payload that is figured at 742 kilograms.
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Chevrolet releases 2011 Corvette Z06 Carbon Limited Edition
Chevrolet has announced an all new 2011 Corvette Z06 Carbon Limited Edition which bridges the gap between a production Corvette and a track version. The Carbon Limited Edition marks the 50th anniversary of the brand’s first race in the 24 Hours of LeMans.
This new variant which is based on a 500-unit production run features Brembo carbon ceramic brakes with specific dark gray metallic calipers, black 20-spoke 19-inch wheels (20-inch for the rear) shod with Michelin PS2 tires, a special carbon pattern engine cover, optimized cooling as well as for the first time on the Z06, a Magnetic Selective Ride Control system.
It also has black headlamps and mirrors, a ZR1-style spoiler, carbon fiber hood, side sills, and front splitter along with two body colour options including Inferno Orange or Supersonic Blue. Interior wise the Z06 Carbon Limited Edition comes with ebony leather and suede upholstery, a special steering wheel emblem, special sill plates plus embroidered headrests.
The company also revealed that selected equipment available with this model can be added to the standard Z06 via optional packages such as the Z07 performance package and the CFZ Z06 carbon fiber kit. Continue reading to view two images in high-res glory.
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Honda CR-Z hybrid modified by Spoon!
The Honda CR-Z concept whetted up appetites for a compact sport coupe with a shape inspired by much loved past master CR-X, but we have to say that the production model, while sticking true to the concept, looks a little too subdued, and the specs are a little underwhelming. It needed some work, and famed Honda tuner Spoon has obliged.
Here, we can see a Spoon fettled CR-Z that looks quite yummy. Responsible for the more purposeful stance is a front coilover kit and rear spring/shock kit that lowers ride height by a substantial 50 mm, working in tandem with those blue Spoon CR93 17-inch alloys wrapped with 225/45 Bridgestone Potenza rubber. Other additions on this testbed include the N1 exhaust, ECU, and “twin-block” calliper and slit rotor brake upgrade.
As a recap, the standard CR-Z is powered by a 1.5-litre engine with 112 bhp/145 Nm, boosted by an electric motor with 14 bhp/77 Nm. Coupled with either a six-speed manual or CVT, the CR-Z does 0-100 km/h in 9.7 seconds.
View the Spoon upgrades part by part after the jump.
Source
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