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China's Geely buying majority stake in Lotus

Geely, the Hong Kong car company that owns Volvo, is acquiring control of British car company Lotus. Geely is purchasing a 51-percent stake in Lotus from struggling Malaysian car company Proton, and a 49.9 percent stake in Proton itself. Etika Automotive will gain the other 49 percent of Lotus. France's PSA Group and Japan's Suzuki had apparently also been interested in acquiring Proton. Geely says it plans to revive both Proton and Lotus. "The agreement lays the foundation for a wider framework for both Geely Holding, Proton and Lotus to explore joint synergies in areas such as research and development, manufacturing and market presence," Geely said in a news release. Those joint synergies will be highlighted by the lightweight chassis technology Lotus is known for, which could help Geely improve fuel efficiency. Geely CFO Daniel Donghui Li said the company aims to "unleash the full potential of Lotus Cars" by expanding and accelerating new products and technologies. Proton was nationally held but was privatized in 2007 to Malaysian conglomerate DRB-Hicom, which is owned by tycoon Syed Mokhtar Al-Bukhary. It was supposed to be the flagship for Malaysia's economic development.Though it owns two factories, Proton mainly rebadges foreign-made cars and sells them in Malaysia. What it has, what Geely presumably wants, is a distribution network in Southeast Asia to pit Chinese cars against Japanese automotive dominance in the region. Retaining a 50.1-percent stake in Proton is seen as a face-saving move. "Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysian finance official Johari Abdul Ghani said. "Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope." Related Video:

Kimi Raikkonen to miss rest of season for back surgery

Formula One drivers keep themselves in peak physical condition, such are the demands placed on them in order to do what they do. But otherworldly as their capabilities may be, they're still human, and that means they get injured or sick just like the rest of us.
Case in point: Kimi Raikkonen and the announcement made today by Lotus that he'll have to sit out the rest of the season in order to undergo back surgery. That means Lotus will have to find a replacement driver for the last two races in Austin and Brazil while Kimi has and recovers from the operation.
Though we wouldn't debate the legitimacy of Kimi's condition or the necessity to rectify it, the timing is sure to raise some eyebrows. Raikkonen has been at the center of a pay dispute with Lotus, and while the situation was reportedly resolved, his decision to undergo what is said to be elective surgery at this point in the season (as opposed to waiting until its end) raises some questions as to his commitment to the team he is leaving and his team's financial commitments to him in turn.

Race Recap: 2013 Japanese Grand Prix flips several scripts [spoilers]

Japan's Suzuka circuit is a great track that all the drivers love, but it doesn't usually provide the most thrilling, head-to-head racing. Where it does excel, however, is with surprises and "What just happened there?!" moments, and this year it was no different.
It started with Mark Webber in his Infiniti Red Bull Racing out-qualifying his teammate Sebastian Vettel for the first time this year. They were followed closely by Lewis Hamilton in the first Mercedes-AMG Petronas, the still-solid Romain Grosjean again outdoing teammate Kimi Räikkönen, Felipe Massa racing for another seat in Formula One and putting his Ferrari in fifth, then Nico Rosberg in the second Mercedes, Nico Hülkenberg in the first Sauber, Fernando Alonso in the second Ferrari, and Räikkönen continuing to do himself no favors by qualifying tenth.
For the second year in a row, the lights going out was the cue to start the first corner action...