Auto News 5

Tesla Motors, Inc. (Tesla) and Toyota Motor Corporation (TMC) today announced that they intend to cooperate on the development of electric vehicles, parts, and production system and engineering support. The two companies intend to form a team of specialists to further those efforts. TMC has agreed to purchase $50 million of Tesla's common stock issued in a private placement to close immediately subsequent to the closing of Tesla's currently planned initial public offering. Full story...

Annapolis, MD - Maryland Governor Martin O'Malley (D) today signed two bills into law that will support advanced vehicle propulsion technology and help spur early consumer acceptance of electric vehicles like the Chevrolet Volt. Full story...

Red Bull had to modify an element of its rear diffuser during the recent Monaco grand prix weekend. Full story...

The Mercedes GP Formula 1 team is apparently working on an F-duct system that does not need to be controlled by the drivers. Full story...

Lotus Racing has apparently elected to shift design focus on their 2011 car in hopes to beat the opposition. Full story...

The FIA, the Formula 1 governing body on Thursday admitted a "lack of clarity" in the rules led to the last-lap Monaco Grand Prix controversy. Full story...

Designer Peter Schreyer has quite an impressive resume. Among others, he's the mastermind behind the Audi TT and Volkswagen New Beetle, two cars that literally brought their respective brands back to the forefront of the global design scene. When such an expert decides to lead a team of bright young stylists at a company like Kia, every product and idea is thoroughly revisited and improved. Full story...

According to The Detroit News, GM has decided to build the high-performance version of its upcoming Buick Regal sedan. Full story...

FAZZT Racing's driver Alex Tagliani set the third fastest time Wednesday at the end of the practice session on the oval of the Indianapolis Motor Speedway. Full story...

General Motors Co.'s new marketing chief, Joel Ewanick, plans to shift primary responsibility for Chevrolet advertising to Goodby, Silverstein and Partners, AdWeek reported, citing sources familiar with the move. Full story...

Chrysler Group today released photos of the 2011 Jeep Grand Cherokee, which goes on sale in mid-June. Full story...

It's coming in June, and now we finally know what it looks like: Chrysler released images of the 2011 Jeep Grand Cherokee on Wednesday afternoon. Full story...

The U.S. government wouldn't get the power it needs to order immediate auto recalls under Senate legislation drafted after Toyota Motor Corp.'s vehicle defects, the chief federal auto regulator said today. Full story...

A Kansas City used car and auto parts dealer today admitted in federal court to sending money to al-Qaida, prosecutors said. Khalid Ouazzani, 32, a Moroccan-born naturalized U.S. Full story...

Valeo has announced that it now owns 100% of the capital in its electrical systems manufacturing entity based in Pune, India. Full story...

International Automotive Components Group Inc. has further expanded its growing presence in China with a new automotive carpet manufacturing plant near Beijing, the supplier said today. Full story...

Opel/Vauxhall's management and its employees are close to a deal that would cut costs at GM's European unit. Full story...

In News Brake: Volkswagen wants to buy Italdesign Giugiaro, a driver is injured in practice for the Indy 500, and Lexus is poised for a recall . . . But Wait, There's More! Full story...

A third dealer challenger will be on the congressional ballot come November. Mike Kelly, a dealer in Butler, Pa., won his primary race yesterday for the Republican nod in Pennsylvania's 3rd District. Full story...

Nokia and in-car entertainment company Harman have said they intend to develop a smartphone-to-car interface that could pass information back and forth between the two computing systems. Full story...