Vengeance Racing has staked its claim as the first tuner to build a 1000-horsepower Corvette C7 Stingray.

The company had already built a Stingray with 890 horsepower and 743 lb-ft of torque, thanks to an East Coast supercharger and a slew of other beefed-up components.

Adding a nitrous system helped the company reach a claimed 1,018 horsepower and 894 lb-ft of torque–more than doubling the stock Stingray’s 450-pony output from the 6.2-liter LT1 V8 mill.

Vengeance isn’t the only company working on Chevrolet’s flagship sports car. The better-known tuner Hennessey Performance Engineering announced early last year that it expected to fetch 800 to 1000 horsepower by adding a twin-turbocharger kit.

In the meantime, Hennessey already offers a supercharger kit that bumps the car up to 700 horsepower. Both tuners offer a wide range of upgrades to help the engine handle such power.

Hennessey has yet to follow-up with an update on its 1000-pony Stingray project.

Jaguar will soon cease production of its fetching but aged XK coupe and convertible, a new report indicates.

All-new for the 2007 model year, the current, second-generation XK will be discontinued this summer, according to Autocar. Jaguar has not issued an official confirmation of the move.

Should the news prove accurate, the reasons for the XK’s demise won’t be difficult to understand – aside from its advanced age, the two-door’s major problem is sales cannibalization from its younger sibling, the F-Type. XK volume has dropped off precipitously since the F-Type hit the market, suggesting an unhealthy amount of price and positioning overlap between the two models.

While there would reportedly not be an immediate replacement for the XK, Jaguar is said to be considering fielding a successor at some point down the line. In the past, Jaguar design director Ian Callum has hinted that a next-generation XK would likely drop the split sports car/grand tourer personality of today’s model and instead focus on luxury, leaving the F-Type as the brand’s driver-focused offering.

“It could grow into the luxury market, and grow in size,” Callum said. “Whether it stays the same as a two-plus-two or becomes a two-plus-more-than-two has not been committed to yet.”

Bentley is considering adding a smaller vehicle to its lineup following the launch of its upcoming SUV, the company’s sales and marketing boss has revealed.

Kevin Rose, head of Bentley’s sales and marketing, revealed to Auto Express during the recent Geneva Motor Show that the British automaker is considering launching a smaller sedan as its fifth model line. The sedan could take the form of a four-door coupe and take on vehicles like the Aston Martin Rapide.

But despite its smaller size, don’t expected the four-door coupe to have a smaller price. Rose added that the new model would carry a price tag befitting of Bentley’s premium positioning.

“Price is an important part of exclusivity,” said Rose, “so it’s hard to see us coming down to anything under £100,000.”

Bentley’s fifth model remains on the back burner for now as the company prepares for the launch of its first SUV and readies replacements for the Continental and Flying Spur. However, Bentley’s four-door could could arrive in showrooms as early as 2019.

Daimler has announced that it is divesting its 50-percent stake in a joint venture with Rolls-Royce Power Systems.

The partnership was initially established just three years ago, enabling both companies to pool their resources and purchase German engine maker Tognum for 3.4 billion euros. The acquired company specialized in engines for defense, marine and industrial applications.

“After the successful cooperation with Rolls-Royce and the positive development of RRPS, we are now taking the next logical step and are transferring our shares to our joint-venture partner,” said Daimler head Dr. Dieter Zetsche. “All parties involved will benefit from this move: Daimler as well as RRPS and its workforce.”

Another executive noted that the joint venture’s focus on industrial propulsion systems is a perfect fit for complete ownership under Rolls-Royce. The sale will consequently raise funds for Daimler to invest in its own core businesses.

Despite Daimler’s formal exit from shared ownership, the company promises to maintain partnerships with the London-based company. The sale will not affect existing supply agreements that extend into 2025.

“Irrespective of the ownership situation, we will remain closely connected with the company based on our supply relationship,” said Daimler’s trucks and buses division chief, Dr. Wolfgang Bernhard. “In close coordination with Rolls-Royce, we will further drive the business for heavy-duty and medium-duty diesel engines.”

Daimler’s stake was recently estimated to be worth approximately 1.9 billion pounds (~$3.18 billion USD).

General Motors is reportedly preparing to introduce its second-generation Chevrolet Volt hybrid sometime in 2015.

The company has developed a new front-wheel-drive hybrid platform for the redesigned model, however it is not expected to feature drastic alterations to the current body style, unnamed industry sources have told Edmunds.

“It is different, but not drastically different,” the insider said. “Just really a bit of a styling change to it.”

Former GM CEO Dan Akerson early last year promised that the next Volt will be significantly lighter than the current iteration, with a list price likely around $30,000 to $33,000. The company already dropped the retail price to $34,995 (including $810 destination fee) for the 2014 model year, however a further discount would help the hybrid compete against plug-in offerings from Toyota, Nissan and Ford.

The current Volt provides up to 38 miles of electric-only range before the 1.4-liter four-cylinder generator kicks in. Lower weight will likely bring improvements to electric range and gasoline consumption, though GM has yet to publicly confirm any specifics.

The second-generation model is expected to be launched for the 2016 model year.