2021 Koenigsegg Regera on 2040-cars

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Koenigsegg's resolution for 2022 is to launch a new hypercar

Koenigsegg's resolution for 2022 is one that most enthusiasts can agree with: "more ultimate performance." While details are few and far between, the Swedish firm published a dark preview image on its social media channels that gives us an early look at a new hypercar. As is often the case, the photo asks more questions than it answers. What's intriguing is that the model seems to wear a far more angular exterior design than the 1,600-horsepower Jesko, which is characterized by curved lines. Even the Agera RS was more rounded. We won't go as far as calling the new car retro, but it's certainly worth noting that Koenigsegg's early models (like the CC8S) were also rather square. Another point worth bringing up is that throwback design cues sell well in the supercar and hypercar segments. Bugatti had no trouble selling 10 examples of the Chiron-derived Centodieci, which is a tribute to the EB110 built in the 1990s. And, the born-again Lamborghini Countach was sold out before its unveiling in 2021; it's limited to 112 units. Koenigsegg's CC8S is turning 20 in 2022, if you catch our drift. We're told that Koenigsegg will deliver more ultimate performance through "clever engineering and optimal design," so the new model likely has a few tech tricks up its sleeve. It won't be the kind of technology that's dominating CES 2022: Koenigsegg has made it clear that its customers want to drive themselves and that an autonomous car isn't in its pipeline. However, the company is experimenting with extremely innovative ideas in the powertrain department (its four-seater Gemera is powered by a 1,700-horsepower gasoline-electric hybrid powertrain built around a camless three-cylinder engine) so it's reasonable to assume that the new model's specifications sheet will surprise us. Color us intrigued, then. More information about the next Koenigsegg model will emerge in the coming months. Related Video: Koenigsegg Coupe Supercars

Koenigsegg CC850 shown with 1,185 horsepower, fascinating gated manual

This is a big year for Koenigsegg. It's the 20-year anniversary of the Swedish supercar builder's first production car, the CC8S. It's also the 50th birthday of the founder, Christian von Koenigsegg. To celebrate, the company has put together the CC850, which is a reimagining of that original supercar, but using modern technology. It looks very much like the old car, but packs way more power and some wild features. The exterior is quite close to the original. The biggest changes are the switches to more flowing LED lighting up front and in the rear. It has reworked wheels with the phone-dial round openings and has a smooth, uncluttered design. Part of that is due to the hidden rear wing that deploys at speed. The car has the signature tumble-forward doors, powered hood and engine cover, and it has a removable top that can be stowed in the car just like the CC8S. The interior is much more modern Koenigsegg, and the highlights include the beautiful analog instrument dials and the gated shifter in the middle. That shifter features a wood knob with a Swedish flag, again like CC8S. As is often the case with Koenigseggs, the parts that make it go are as interesting if not more so than the swoopy shell. The CC850 is powered by a twin-turbo 5.0-liter V8 that makes 1,185 horsepower and 1,022 pound-feet of torque on gasoline. Put E85 ethanol in it, and power climbs to 1,385. Christian von Koenigsegg noted that these numbers are a bit lower than for the Jesko, which provided the base for much of the CC850. The reason is because the company went with smaller turbos for better response and less lag, since the car has a manual transmission, sort of. Ok, so let's talk about the transmission. It's a version of the Light Speed Transmission, which has a set of seven clutches and nine gear ratios and can jump from any gear to any other gear, unlike most dual-clutch transmissions that have to shift sequentially. In the Jesko, it's an automatic transmission with paddle shifters. Here, it has an automatic mode, but it also has a manual mode, complete with clutch pedal. The clutch pedal does actuate the transmission's multiple clutches, and it is possible to stall the car if you're not balancing your clutch and throttle inputs. And the shifter will tell the car which gear you want. Curiously, there are only six gates for the manual mode. Christian von Koenigsegg said that having to pick through nine gates would be complicated, so the company stuck with six.

Explainer: How China Evergrande's debt troubles pose a systemic risk

HONG KONG — China Evergrande Group has raised fresh warnings of default risks, as it scrambles to raise funds to pay lenders and suppliers with regulators and financial markets worried that any crisis could ripple through China's banking system and trigger social unrest. WHAT IS EVERGRANDE? Founded in 1996 by Chairman Hui Ka Yan in Guangzhou, Evergrande is China's second-largest property developer with $110 billion in sales last year. The company listed in Hong Kong in 2009, helping it grow its asset size to $355 billion today. It has more than 1,300 developments across the nation, many in smaller cities. With sales growth slowing in recent years, Evergrande has branched into businesses such as electric cars, football, insurance and bottled water. HOW DID CONCERNS ARISE OVER DEBT? Investors became worried in September last year after a leaked letter purportedly from the company showed Evergrande had pleaded for government support to approve a now-dropped backdoor listing plan. Evergrande said the letter was fake. Concerns intensified after Evergrande admitted in June it did not pay some commercial paper on time, and news in July a Chinese court froze a $20 million bank deposit held by the firm on the request of Guangfa Bank. Evergrande's fast expansion has been fueled by loans to support its land buying spree, and selling apartments quickly despite low margins so as to start the cycle again. Its total liability, which include payables, is at 1.97 trillion yuan ($306.3 billion), or around 2% of the country's GDP. Other than the usual bank and bond channels, the developer has been criticized for tapping the shadow banking market, including trusts, wealth management products and commercial paper. HOW HAS EVERGRANDE DELEVERAGED? Evergrande accelerated its debt-reduction efforts last year after regulators introduced caps on three debt ratios, dubbed the "three red lines" policy. It aims to meet all the requirements by the end of 2022. Evergrande has given buyers steep discounts for its residential developments and sold the bulk of its commercial properties. Since the second half of 2020, it has had a $555 million secondary share sale, raising $1.8 billion by listing its property management unit in Hong Kong, while its EV unit sold a $3.4 billion stake to new investors. On Tuesday, however, it said its asset and equity disposal plans have failed to make material progress. WHAT'S THE RISK?