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Ford reaches agreement to sell Volvo to Geely for $1.8 billion

Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced on Sunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.

Caterham F1 unveils its 2012 challenger

It's that time of the year when all the new 2012 F1 cars are unveiled. In the next fortnight, most of the major Formula 1 teams will announce their new race cars ready for the 2012 F1 season. The rules are changed, so are the cars.

Toyota Hybrid-R Concept – a Yaris with 400bhp – teased for Frankfurt

The Toyota Hybrid-R Concept (pictured) is a 400bhp Yaris Hybrid heading for Frankfurt We’ve always believed that the best use for hybrid powertrains is to get extra performance without the penalty of increased fuel consumption. Toyota, on the other hand, have primarily used their impressive – if complicated and expensive – hybrid powertrains to yield improved economy and emissions from more prosaic cars like the Prius, Yaris and Auris. But now it looks like Toyota are ready to show us what hybrid technology can offer in the way of performance too, with a tease for what Toyota are calling the Hybrid-R Concept, which appears to be a Yaris with more than 400bhp on tap.