Lotus Exits F1, But Lotus Name Remains

Lotus Exits F1, But Lotus Name Remains
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Despite terminating its title sponsorship deal with Group Lotus, Lotus is committed to keeping its name in Formula 1 for the imminent feature. Confused? You should be. Group Lotus was recently sold by Proton to Malaysian automotive corporation DRB-Hicom, causing Lotus F1’s team owner Genii Capital to end its formal relationship with Lotus. Just a… Continue Reading...

Proton May Purchase Team Lotus F1

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Proton May Purchase Team Lotus F1
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 For the first two races of the 2012 Formula 1 season, Team Lotus has received a mixed bag of results. Formula 1 World Champion Kimi Raikkonen finished both races in the points despite mediocre qualifying. Meanwhile, GP2 champion Romain Grosjean displayed rapid pace during qualifying but suffered a DNF for both races. Such is the mix… Continue Reading...

Lotus Appeals F1 Name Ruling

Lotus Appeals F1 Name Ruling
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What season of F1 would be complete without the off-track drama? The complex battle between racing teams Group Lotus and Team Lotus rages on, indicating that the previous ruling for the rights to the Lotus name didn’t end the dispute yet. Turns out, the high court judge had given Group Lotus the go-ahead to use… Continue Reading...

Report: Genii-Ecclestone to Offer $1 For Saab

Report: Genii-Ecclestone to Offer $1 For Saab
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What’s Swedish automaker Saab worth? According to some reports, just $1. Recent rumors have suggested that a partnership between Genii Capital, Formula One boss Bernie Ecclestone and Swedish businessman Lars Carlstrom will offer General Motors one hundred shinny pennies or the loss-making Swedish automaker, saving GM the cost of shutting it down. GM has already… Continue Reading...

Breaking: Saab Shutting Down Says General Motors CEO

Breaking: Saab Shutting Down Says General Motors CEO
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It’s been said several times before, but GM Chairman and CEO Ed Whitacre today told reporters that the company is shutting down its Swedish Saab unit. “We’re closing down Saab,” he said. “We’re winding it down.” Recently GM hired on wind-down firm AlixPartners, but continued to say that it was evaluating proposals from several interested… Continue Reading...

Breaking: GM Hires Firm to Wind-Down Saab, While Continuing to Evaluate Proposals

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Breaking: GM Hires Firm to Wind-Down Saab, While Continuing to Evaluate Proposals
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The future of Saab just became a little more certain today. Or did it? General Motors has released in a statement that it has hired on AlixPartners to oversea the wind-down of its loss-making Saab unit. In other words, GM is planning to close the doors on the Swedish automaker, sending the company into liquidation… Continue Reading...

Report: GM Delays Board Meeting, Postpones Saab Decision as a New Bidder Emerges

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Report: GM Delays Board Meeting, Postpones Saab Decision as a New Bidder Emerges
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General Motors has reportedly delayed a board meeting that was to decide the fate of its loss-making Saab unit today, as a new bidder has emerged onto the scene. GM had already postponed Saab’s fate by dropping a self-imposed December 31st deadline in favor of a January 7th one. Now it is giving Spyker, as… Continue Reading...