When tuning company Hennessey Performance out of Sealy, Texas makes an announcement, it’s usually something fantastic. In this case, they posted details on their site about a new McLaren MP4-12C concept that wrings an extra 208 horsepower out of the car’s 3.8-liter V8.

They manage the incredible feat by performing major surgery on  the drivetrain, dropping in everything from a better intercooler, exhaust, air intake and much more into the mix. Of course, the company backs all its tweaking with a warranty. Click here for the full specs.

Of course, it wouldn’t be a Hennessey without a wickedly redefined look. As per ususal, that philosophy is alive and well. The car will get a new set of wheels, a CarbonAero body upgrade that compliments the wheel color and delivers a two-tone look and a redesigned custom interior.

Normally such an awesome machine wouldn’t be a laughing matter, but we have to make fun of the Texan lads a little. They claim on their site to have taken the MP4-12C from “mild to wild.”

While we don’t doubt the concept’s capacity for rambunctious hoonage, calling anything bearing the McLaren badge “mild” is a little like saying habanero  peppers are tangy. Sorry Hennessey.

There aren’t price details listed yet, but this is just a concept car. In case you hadn’t already figured it out, this is one of those cases where having to ask the price means you can’t afford to play. If this one makes it to market, expect a healthy margin on top of the $229,000 base price for the mild version.

Next year’s U.S. Grand Prix could be in jeopardy if organizers of the Austin, Texas race do not agree on a contract and pay fees by the end of next week. Formula One’s head honcho Bernie Ecclestone’s patience is clearly wearing thin with negotiations and does not want to wait beyond the season-ending Brazilian Grand Prix race in San Paulo on November 27th for a decision to be made.

The first race to be held in the United States since 2007 has been hyped up and highly anticipated but Ecclestone has no problems calling it off if no deal is done. Some might believe that Ecclestone isn’t so focused on working out a deal for the Austin, Texas race since a deal has been settled for a grand prix in New Jersey for 2013.

As with everything else that makes the world turn, negotiations have come down to money, Ecclestone exclaiming that “they can’t bloody well pay,” and “the teams want paying.”

Ecclestone claims that the deal has been ongoing for 18 months now, and that he doesn’t have any contract with anybody concerning the race in Austin. As of Tuesday, construction at the Austin track was halted but Steve Sexton, Circuit of the Americas president, remains optimistic.

At the end of the day though, Ecclestone is clearly becoming impatient and frustrated with the negotiations. “Since we’ve been talking to the people in Austin we’ve done two or three deals with different countries. I don’t know what the problem is for America really.”

[Source: Reuters UK]

Circuit of the Americas is halting of the Formula One circuit in Austin, Texas, effective immediately.

The organizers came to this decision after they didn’t receive a contract to assure that the Formula One United States Grand Prix will be held at their venue.

“We have spent tremendous resources preparing for the Formula One and MotoGP Championship races, but the failure to deliver race contracts gives us great concern,” said Bobby Epstein, founding partner of Circuit of The Americas in a press release. He went on to say that more than 100,000 fans expressed interest in the event.

The track would be the first purpose-built Grand Prix facility in the United States, but it seems that construction which otherwise had proceeded as expected, will only continue with a contract.

The announcement came shortly after Texas state comptroller Susan Combs said there wouldn’t be money paid out until after the race takes place.

That stacked on top of Formula One boss Bernie Ecclestone’s $25 million sanctioning fee means the whole thing faces serious challenges.

[Source: AutoWeek]

The moment has come. Formula One, the pinnacle of international automotive racing, is coming for Greater New York in 2013!

According to well placed sources involved in the matter, the Formula 1 franchise will make an official announcement of the “Formula One Grand Prix of America” some time next week. Slatted for June 2013, the Weehawken-West New York road course of New Jersey will feature a stunning Manhattan skyline backdrop.

A Tuesday press conference at Port Imperial, Weehawken is expected. This project was first proposed in August, when the mayors of Weehawken and West New York issued a joint statement that revealed discussions with a group of investors led by Leo Hindery by Leo Hindery, Jr., a former chief executive of the YES Network, to bring a race to New Jersey were in motion.

The current Formula One calendar features nineteen incredible destinations including Monaco, Shanghai, Sao Paulo, Yas Marina, Montreal, Melbourne, and Catalunya. The last grand prix held in the United States was at Indianapolis Motor Speedway in 2007.

By 2010, already a three year hiatus, Formula 1 already announced plans for a return to the United States. As we speak, a state-of-the-art $250 million racetrack in Austin, Texas enters the final phases of construction, readying for its debut at the November 2012 Formula One Grand Prix of America. With the addition of the New Jersey circuit, racing fans in the United States finally gets to experience the excitement they deserve.

[Source: Wall Street Journal]

Previously capped at 80 mph, the Texas House of Representatives approved a new transportation bill that will raise speed limits up to 85 mph in select areas and put an end to the night-time speed limit as well. Yee-haw!

Though exciting for driving enthusiasts (or anyone in a hurry), don’t pack your bags for the Lone Star State just yet. Texas engineers and traffic analysts must first make safety assessments before the state can swap for new signs. Only after a review on Interstate highways determining which will have its speed limit raised from 70 to 75 mph does the state review which can increase from 80 to 85 mph. Yes, the process does sound a bit lame but hopefully we will be rewarded for our patience.

David Coulthard and his Red Bull F1 team traveled down to Austin, Texas to check out the soon to be completed Circuit of the Americas track.

Over the weekend, David Coulthard took his 750-hp Red Bull Formula One race car on a cruise in and around the Texas capital, engaged in some hooning and put on a show for the crowd.

In this clip, Coulthard takes the high performance F1 car on the dirt roads of the soon to be grand prix track, as well as along some highways. It’s not every day you get to see one of these cars go off-roading, or tear through city steets.

Check out the videos after the jump!

GALLERY: Red Bull F1

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Everything’s big in Texas, so the saying goes. Unless Fiat has something to say about it: out of 70 existing Fiat dealers, 10 of them are opening up in Texas—the second-highest amount of dealerships, behind California, and tied with New York and Florida.

Texas may seem like a strange state to sell small cars, considering that they’re so infatuated with pickup trucks that GM, Ford, Dodge, and even Toyota have “Texas edition” versions of their big honkin’ trucks. But two of its major metropolitan areas, Dallas-Fort Worth-Arlington and Houston-Sugar Land-Baytown, feature populations over 5 million, with the usual issues of traffic and congestion found anywhere else. Fiat is betting on these population-dense areas to achieve market success.

And while Texas might not come to mind as a trendy, fashion-conscious place like New York, Florida or California, its major city Houston is America’s 4th-largest city, and brimming with cosmopolitans in the high-tech energy and computing industries. And dispelling the notion that these urban dwellers would spring for automatic transmissions: 70% of cars sold by these dealers are equipped with the 5-speed manual.

Eventually, Fiat will open up 130 dealers across the country. But for now, if you’re in one of these trendsetting states, then you won’t have to drive far to pick one up.

[Source: Ward's Auto]

Wanna make some extra dough on the side? Illinois is deciding whether to allow advertising space on its state license plates. If approved, this would allow corporate sponsors to put their business logos on the plates, which would be offered to drives at a lower price. A vote last month decided that the secretary of state should look at the pros and cons of corporate plates. Sen. John Mulroe, D-Chicago believes corporate plates will be a great way to bring in money without raising taxes.

Corporate plates have already been approved in Texas, and produced by a firm called My Plates. Companies advertising through these plates include Re/Max real estate and Mighty Fine Burgers. 489 plates have been sold in Texas since Nov 2009 and $51,805 has already been raised for the state’s general revenue fund, according to a My Plates spokeswoman.

The corporate plates may not be approved in Illinois, because there are already 70 specialty plates available ranging from promoting veterans and colleges to nonprofit organizations.

[Source: Chicago Tribune]

The proposed Formula 1 race track in Austin, Texas will officially be known as the Circuit of the Americas, and feature a variety of facilities beyond the 3.4 mile race track, including a full-time trauma center, and venues for commercial, educational and social events that will all be open year-round.

While a large degree of skepticism initially greeted the announcement of Austin as the home of Formula 1, the circuit is on schedule, and has been designed by noted track architect Herman Tilke. In addition to Formula 1, MotoGP  has also signed a 10 year contract to hold motorcycle races in Austin, moving from its former home at Laguna Seca.

Construction begins in December, at a site near Austin’s airport.

[Source: Inside Line]

General Motors will idle their Arlington, Texas plant due to a parts shortage, although details were not given as to what the specific issue was.

The factory builds vehicles like the Chevrolet Tahoe and Cadillac Escalade. A UAW representative told Automotive News that two 10-hour overtime shifts would be cancelled. So far, the standard 10-hour shifts from Monday to Thursday appear unaffected, although the overtime hours have been a constant at the plant for over a year.

A GM spokesman said that the shifts would be “rescheduled” although further details were not provided.

[Source: Automotive News]