Hyundai has already released renderings of its Cosworth-tuned Genesis Coupe that will be on display at the2012 SEMA Show, and with the show just a couple more weeks away, Hyundai is now teasing a souped-upVeloster headed to Las Vegas. The Hyundai Veloster Turbo Velocity concept was designed at Hyundai’s America Technical Center in Irvine, CA to be a street car that is also trackable. To start, Hyundai had the Veloster Turbo’s stock engine sent off to Cosworth for new internal components, turbocharger, intercooler, intake manifold and engine controller, and it was finished off with a custom exhaust system. The result gives the Velocity concept more than 400 horsepower and 350 pound-feet. To handle the track, Hyundai also upgraded the car’s suspension and brakes. SEMA concepts are known for their flashy, over-the-top designs, and the Velocity will not disappoint with its wide body kit, a massive rear wing and a white-painted roof that gives the car a custom chopped look. Intending to prove this concept is ready for the track, the Velocity also comes with a full roll bar, data acquisition hardware and racing harnesses. We’ll have live images of the Veloster Turbo Velocity concept for you in a couple weeks, but until then, Hyundai has included a press release and a quick video of its SEMA-bound concept that we’ve posted below Read more
When the Fisker Atlantic was revealed in April, no one was saying anything about production dates. Even in recent interviews and statements, Fisker has remained coy about when it might start building the smaller cousin to the Karma. Given Fisker’s financial difficulties and questions about where it will build the car, none of this was a surprise. It’s also not at all shocking that reports now say Fisker might not start making the Atlantic until 2014 or 2015. Reuters says that was “the first time Fisker disclosed a production timetable for the Atlantic,” but way back in 2009, the official timeline said the Atlantic (then called Project Nina) would start production by the end of 2012. Fisker representatives used the new 2014 date in slides presented to investors. It was also revealed that a lot of the work on the car is done, since “about 90 percent of the parts in the Atlantic have been engineered.” Should the Atlantic still be built in Delaware, as originally planned, suppliers might use some of the large factory that Fisker bought from General Motors. Of course, with the news that one of Fisker’s main suppliers for the Karma – A123 Systems – might go bankrupt, we’ll see how long the 2014 date holds firm. Source: Autoblog.com
It appears that the World Rally Championship has lost another key player. After word that Mini is leaving WRC comes news that Ford is pulling out as well. While Mini’s departure was rooted in its tenuous relationship with Prodrive, Ford’s exit from the sport is tied to the poor economic climate in Europe. According to a statement from Ford of Europe’s VP of Marketing, Sales and Service, Roeland de Waard, “Ford has a long and proud history in the WRC and this was not an easy decision.” He continued, “At this time, however, we determined that it was better for the company and the Ford brand to reduce our commitment to the WRC and deploy our resources in other areas.” While Ford’s factory backing might be out, the rally masters at M-Sport were running the Ford team up until this news and plan to stay on with the Fiesta WRC in the years to come. The racing outfit, run by Malcolm Wilson, has achieved 52 wins and 208 podium finishes in the 16 seasons that it has been racing with Ford. The M-Sport boss voiced his gratitude toward the relationship with the automaker saying, “I would like to thank Ford of Europe for their enthusiastic support and the faith shown in the team over the past 16 seasons. We understand that tough decisions have had to be made to safeguard Ford jobs.” M-Sport has run Ford’s factory team since 1997, and is talking with Ford to receive support in the form of vehicles and engineering. The extent of that support remains to be seen, and it is unknown if Ford will return to WRC if economic conditions in Europe improve. Source: Racer.com
A123 Systems, the Bay State battery maker that received millions in government grants, has filed for bankruptcy. The Waltham-based company sought Chapter 11 bankruptcy protection today after failing to make a debt payment that was due yesterday. A123 Systems listed about $460 million in assets and $376 million in debt in the filing in U.S. Bankruptcy Court in Delaware. “The company may not have sufficient cash to fund operations,” the company warned in a filing with the U.S. Securities and Exchange Commission. A123 Systems — which makes high-tech batteries for electric cars with technology developed at MIT — received nearly $250 million in federal grants to build a factory in Livonia, Mich., with the promise to create some 38,000 U.S. jobs. The company also received a $5 million loan from the Patrick administration to expand in Massachusetts. Read more
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