Word: renault
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...that the money needed to defuse the situation will be handed over. New Fabris was ordered into liquidation by a court in April, meaning its owners are in no condition to pay up. That's why workers are demanding that the plant's two biggest clients - the makers of Renault and Peugeot cars - provide the $41,000 for each job being eliminated. Not surprisingly, officials at both those groups say they aren't going to pony up the total $14 million that would cost - especially since the machinery and auto parts at the plant are scarcely worth $2.8 million...
...Formula One's top teams are having none of it. On June 18, the F1 Teams Association (FOTA) announced that eight of its biggest teams, including Ferrari, McLaren, Renault, Toyota, BMW Sauber and current competition leader Brawn GP, plan to set up a rival championship for the 2010 season. They say the rule changes proposed by Mosley would create an unsatisfying two-tier competition by setting different engineering rules for teams that accept the cap and those that don't, and that the spending cap would hinder innovation. A series of recent changes in the rules governing design have also...
While some teams have cheered the idea, others have blown a gasket. Ferrari, the sport's oldest and most illustrious team, this week threatened to quit Formula One unless the plans were parked. On Friday, Team Ferrari filed an injunction in a French court to block the cap. Rivals Renault, Toyota, Red Bull and Torro Rosso all issued similar warnings. "If the regulations for 2010 will not change," read a Ferrari statement, "then Ferrari does not intend to enter cars in the next Formula One world championship." (See the 50 worst cars of all time...
...front and rear wings, for instance, or carry out unlimited out-of-season testing. Such activities could chop three seconds off a lap time. Moreover, the manner in which the plans came about has also put teams in a spin. Not having been consulted sufficiently by the governing body, Renault said in its own statement, it was now refusing "to accept unilateral governance handed out by the FIA." (See pictures of the American muscle car in the movies...
...Other automakers are reacting. Suzuki India this week announced plans to launch a 660cc car for the domestic market but did not divulge the car's price. Renault, Toyota and Hyundai are also developing small cars for the low end of the Indian market, now defined by the Nano. Volkswagen is believed to have plans for a two-door, rear-engine car. "The Nano has opened a big market segment, and all the players will certainly push up their launches to attract those buyers fast," says...