General Motors Motor Sport Expansion
11-09-2010, 12:09 AM
#1
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General Motors Motor Sport Expansion
I'm surprised I haven't seen this on here. Forgive if it's a dupe.
Z//
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General Motors eyes Indycar return
November 8th, 2010 - Gordon Kirby
It has been reported that General Motors has decided to return to racing
in a big way, building a Chevrolet twin turbo V6 engine for the new 2012
Indycar formula. It is said that Chip Ganassi's team will race a new
Chevrolet engine in 2012 and that GM Racing will ramp up its motor sport
involvement next year with sharply expanded support for its Grand-Am
Daytona Prototype and GT teams, a similar increase in NHRA drag racing
and a two-car Cadillac CTS-V Coupe team to compete in the World
Challenge GT series. According to Autoextremist.com, GM's new race
program will be announced at the Indianapolis Motor Speedway on
Friday.
GM was saved from bankruptcy last year by a US$50 billion bailout from
the United States government. But the company has rebounded over the
past year and plans a stock offering aimed at selling 365 million common
shares at $26-29 to raise $11 billion. The plan is to cut US government
ownership in GM from just over 60 per cent to around 43 per cent.
The new racing program will be an integral part of GM's aggressive
effort to promote itself as a reinvigorated, technologically assertive
company. Ganassi's NASCAR team races Chevrolets but Ganassi has held
talks in recent months with Ford about switching brands. It is reported
that GM's new strategy has convinced Ganassi to remain with Chevrolet in
NASCAR and make the move to Chevrolet Indy engines in 2012.
Will Chip enjoy an exclusive arrangement with GM for Indycar racing?
That's unlikely because the company has had a long-time relationship
with Roger Penske, who partnered Chevrolet in building the successful
Ilmor/Chevrolet Indy V8 from 1987-93. That engine won six consecutive
Indy 500s from 1988-93 and GM won the race five more times with an
Oldsmobile engine from 1997-2001 plus the '02 Indy 500 with a
Chevrolet-branded Cosworth engine.
GM's return to Indianapolis will be a big shot in the arm for Indycar
racing. It will be the first time since 2005 that Honda has faced
competition in American open-wheel racing and it will be interesting to
see if GM's move draws other major manufacturers back to Indy.
Another question is who will partner GM to design and build the new
engine? Penske probably holds the right cards through Ilmor Engineering,
whose American division currently rebuilds Honda's Indy engines. General
Motors has bounced back after years of decline and the same scenario may
now be on the cards for Indycar racing.
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Z//
---------------------------
General Motors eyes Indycar return
November 8th, 2010 - Gordon Kirby
It has been reported that General Motors has decided to return to racing
in a big way, building a Chevrolet twin turbo V6 engine for the new 2012
Indycar formula. It is said that Chip Ganassi's team will race a new
Chevrolet engine in 2012 and that GM Racing will ramp up its motor sport
involvement next year with sharply expanded support for its Grand-Am
Daytona Prototype and GT teams, a similar increase in NHRA drag racing
and a two-car Cadillac CTS-V Coupe team to compete in the World
Challenge GT series. According to Autoextremist.com, GM's new race
program will be announced at the Indianapolis Motor Speedway on
Friday.
GM was saved from bankruptcy last year by a US$50 billion bailout from
the United States government. But the company has rebounded over the
past year and plans a stock offering aimed at selling 365 million common
shares at $26-29 to raise $11 billion. The plan is to cut US government
ownership in GM from just over 60 per cent to around 43 per cent.
The new racing program will be an integral part of GM's aggressive
effort to promote itself as a reinvigorated, technologically assertive
company. Ganassi's NASCAR team races Chevrolets but Ganassi has held
talks in recent months with Ford about switching brands. It is reported
that GM's new strategy has convinced Ganassi to remain with Chevrolet in
NASCAR and make the move to Chevrolet Indy engines in 2012.
Will Chip enjoy an exclusive arrangement with GM for Indycar racing?
That's unlikely because the company has had a long-time relationship
with Roger Penske, who partnered Chevrolet in building the successful
Ilmor/Chevrolet Indy V8 from 1987-93. That engine won six consecutive
Indy 500s from 1988-93 and GM won the race five more times with an
Oldsmobile engine from 1997-2001 plus the '02 Indy 500 with a
Chevrolet-branded Cosworth engine.
GM's return to Indianapolis will be a big shot in the arm for Indycar
racing. It will be the first time since 2005 that Honda has faced
competition in American open-wheel racing and it will be interesting to
see if GM's move draws other major manufacturers back to Indy.
Another question is who will partner GM to design and build the new
engine? Penske probably holds the right cards through Ilmor Engineering,
whose American division currently rebuilds Honda's Indy engines. General
Motors has bounced back after years of decline and the same scenario may
now be on the cards for Indycar racing.
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11-09-2010, 01:08 PM
#3
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Thread Starter
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