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BMW makes X7 in Spartanburg official

BMW has made it official - there will be a flagship crossover called X7, and it will be built right here in the US of A. The announcement was made today, confirming rumors of the new model at the Spartanburg, SC factory that broke earlier this week.
"Plant Spartanburg was built to enhance and expand the BMW lineup, underscoring the BMW Group commitment to the United States" said Dr. Norbert Reithofer, chairman of the BMW board of management in a statement. "In addition to the X3, X5, X6, and the new X4, we are today announcing another all-new, larger X model to be manufactured exclusively at this plant for our world markets: the X7."
BMW will spend $1 billion by 2016 upgrading its South Carolina factory, which already produces the X3, X5 and X6. The plant is currently capable of producing 300,000 units per year, but with the big investment from BMW, capacity will climb to 450,000 units. 800 jobs will be added as a result of the investment and new and upcoming models.

Toyota sells off Tesla shares, too

The incredible rise of Tesla's stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler, parent company of Mercedes-Benz, ditched its four-percent stake, and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment.
The move comes as Toyota winds down sales of the RAV4 EV, which gets its batteries and electric motor from Tesla at the company's Fremont, CA factory.
"We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects," Toyota spokesperson Kayo Doi told Bloomberg via email.

BMW readying competition pack for M5, M6

According to Car and Driver, citing a report in BMW Blog, BMW will be offering performance upgrades - likely called the Competition package - for its M5 and M6 models (including the convertible and Gran Coupe versions of the M6). Both cars will continue to be offered with the normal 560-horsepower, 4.4-liter twin-turbocharged V8 engines, but this new performance pack is expected to add an additional 15 hp to the mix.
No need to worry, however - the upgrades won't simply be limited to a small boost in power. These M5 and M6 models will reportedly get new wheels, black exhaust tips, a more direct steering ratio and reworked suspension geometry which will provide better overall handling. Top speed is said to remain governed at 190 miles per hour, but that these extra improvements will shave one-tenth of a second off the cars' 0-60 times.
No pricing information has been revealed as of this writing, though we imagine it'll likely come at a substantial cost over the current starting prices of the M5 and M6 ($90,200 and $108,350, respectively).