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Showing posts from September 30, 2017

MECUM AUCTION STARS & STEEL CORVETTE 250 of 250 HOW DID IT DO?!

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ZHEJIANG GEELY HOLDING GROUP COMPLETES GROUP LOTUS PLC TRANSACTION

• Geely Holding and Etika Automotive Announce Joint Board • Mr. Daniel Donghui Li appointed Chairman of Lotus Board • Mr. Jean-Marc Gales to continue in his role as CEO September 29th, Kuala Lumpur. Zhejiang Geely Holding Group (Geely Holding) today completed the transaction to purchase a majority stake in the British luxury sports brand Lotus.  Geely Holding now owns a majority stake of 51% in Lotus Advance Technologies Sdn Bhd (Lotus) with a minority 49% being held by Etika Automotive (Etika), a Malaysian automotive group. Company Structure With the transaction completed, the Board of Directors for Lotus has been formally established, consisting of five seats of which three are appointed by Geely Holding and two are appointed by Etika. Under this structure, Geely Holding has appointed Geely Holding’s Executive Vice President and Chief Financial Officer, Mr. Daniel Donghui Li as Chairman of the Lotus Board. Mr. Feng Qing Feng, Geely Auto Vice Presi...

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SSC Tuatara Hypercar Earns World’s “Fastest Production Vehicle” Title Tuatara Breaks World Records, as Racer, Oliver Webb Achieves 331MPH SSC North America, America’s first hypercar company, has reclaimed the coveted title of world’s “Fastest Production Vehicle,” this time with its 1,750hp Tuatara. With internationally acclaimed professional racing driver, Oliver Webb, at the Tuatara’s wheel, the record-breaking drive took place on the morning of Saturday, October 10, outside of Las Vegas near Pahrump, Nevada along a seven-mile stretch of State Route 160. Webb pushed the SSC Tuatara to an average speed of 316.11 mph (508.73 km/h) following two consecutive high-speed test runs of 301.07 mph (484.53 km/h) and 331.15 mph (532.93 km/h). In accordance with record criteria, the Tuatara traveled in opposite directions, clocking its speeds within one hour, to break the world record for “Fastest Production Vehicle.” Officials were on site to verify all world record criteria was met -- including...

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