Thursday, September 28, 2006
Designer Robert Hoffmann drew up this Nissan concept for an auto magazine. The futuristic conveyance is not intended for production, but it's an interesting exercise just the same.
The oversized rear wheels are slanted inward, and move backward for highway cruising, optimizing space when retracted for city driving and enhancing stability in conjunction with a deployable rear wing at higher speeds.
The "car of tomorrow" would theoretically employ a hybrid or electric power plant if it were actually built. Kinda looks like a cross between an alien and an iPod.
(Follow the jump for more pics.)
[Source: via Motor Authority]
Kirk Kerkorian may buy up to 12 million additional shares of GM stock, according to Automotive News. The billionaire investor would need approval from the Securities and Exchange Commission for the deal because it would send his company, Tracinda Corporation, well over 10 percent ownership of GM common stock.
The move supports GM's potential alliance with Renault/Nissan, a merger that Kerkorian has battled for from the beginning. Officially, Tracinda said this in the filing with the SEC:
"Tracinda continues to believe that a strong opportunity exists in a potential alliance between General Motors, Renault and Nissan and that there should be strong General Motors board involvement in the analysis of such a potential alliance, including the utilization of independent advisors."
We're interested to see what power this gives Kerkorian and right-hand man Jerry York, whom Kerkorian has placed onto GM's board of directors.
[Source: Automotive News]
There's been a lot of buzz in the air distracting us from the proposed alliance between General Motors and Renault/Nissan, including talk about a GM alliance with Ford, purported "lukewarm feelings" within the ranks at GM about becoming aligned with the French-Japanese powerhouse, and even GM looking for cash as part of the deal.
Not to worry.
GM and Renault/Nissan have clambered back up to the forefront with a press release distributed this morning, stating that talks are still happening and the possibility of a merger is still under consideration.
GM chairman and CEO Rick Wagoner and Renault/Nissan CEO Carlos Ghosn met today with the Paris Motor Show as their backdrop, hinting that a decision could be made in as early as three weeks. The two sides said in today's statements that GM, Nissan and Renault will continue to explore "how an alliance could generate significant shareholder value for each company."
[Source: Automotive News]