Unveiled in Singapore, the Caterham Aeroseven concept features 2.0L Ford power and driver-selectable electronics. The production version arrives in 2014. Get all the latest auto industry news in the Executive Briefing.
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+ Chairman and CEO Dan Akerson says General Motors is gearing up to take on Tesla Motors in the all-electric vehicle market. More at The Detroit News.
+ Loan provider Ally Financial has filed suit, accusing Banco Santander SA and Chrysler Group of stealing trade secrets. More at Crain’s Detroit Business.
+ Fiat will take full control of diesel engine manufacturer VM Motori by purchasing GM’s portion of the joint venture. More at Yahoo! News.
+ The unified ALMS/Grand-AM schedule for the 2014 TUDOR United SportsCar Series includes 12 events starting with the Rolex 24 in Daytona on January 25-26. More at National Speed Sport News.
+ Ford’s Romanian unit will suspend production for another 13 days in October due to weak demand in European markets. More at Reuters.
+ Caterham cars chose the Pan Pacific Singapore for the unveiling of its Ford-powered Aeroseven concept, with a production version slated to appear in 2014. More at CarAdvice.
+ Forumula 1 supreme leader Bernie Ecclestone says two, maybe three F1 teams are in financial crisis. More at Motorsport.com.
+ Fiat has retained Ron Bloom, a key Obama auto bailout official, to advise on the automaker’s final buyout of Chrysler Group. More at the Detroit Free Press.
+ Mark Webber was issued a ten-place grid penalty for his taxi ride with Fernando Alonso at the finish of the Singapore Grand Prix. More at the UK Mail.
For the previous Executive Briefing from September 20, click here.
So, GM is selling it’s share of a diesel engine business to Fiat and focusing on beating industry giant Tesla with an almost electric car. The more things change…
GM’s exit of VM Motori is not an indicator of its commitment to diesels but its confidence in Fiat. I know it’s trendy to bash GM and tout Fiat lately, but let’s not lose our minds here.
At one time GM was the leading diesel engine manufacturer in the world. However, it was a different type of of diesel unsuited to modern passenger cars.