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Mulally to stay at Ford through end of 2014 at least

Alan Mulally isn't going anywhere... at least not just yet. The CEO who helped turn around Ford Motor Company has been linked to the top job at tech behemoth Microsoft, leading to a flurry of rumors about potential successors. Those rumors, though, may have just been put to rest - at least for a little while.
Speaking to Edsel Ford II (great-grandson of company founder Henry Ford) at the unveiling of the new Mustang, Automotive News Europe confirmed that Mulally would stick around until the end of next year. "Alan is staying through the end of 2014 and that's all I know," said Ford. "Frankly, he has told us that his plan is to stay with Ford through the end of 2014."
Presuming that Edsel Ford is correct and that Microsoft isn't so hot on Mulally that it saves the position for him, it seems increasingly likely that the 68-year-old exec is more interested in continuing to work in Dearborn rather than in Redmond.

2014 Ford Cobra Jet announced with new colors, parachute mount

Ford's drag-strip-ready Mustang Cobra Jet is back for 2014, and it's sporting a few changes to make it even better - both in competition and while sitting still. Rolling off the assembly line ready for duty in the NHRA Stock or Super Stock classes, production of the 2014 Cobra Jet is limited to just 50 units.
Racing upgrades for 2014 include the addition of a new three-speed transmission and a parachute mount, and while these will make the car better in the quarter mile, the Cobra Jet's new colors will make it look better tearing down the track. Buyers can now get their racecars painted up in Gotta Have-It Green or a custom, Cobra Jet-exclusive matte black hue. Ford and Ford Racing have already teamed up to make this an incredible factory drag racer with a full rollcage, massive Hoosier slicks, a race-tuned suspension setup and a supercharged 5.0-liter V8. Now, if only wheelie bars came standard...
Unlike the confusing third-party ordering system announced for the COPO Camaro, all you need to snatch up a 2014 Cobra Jet is $97,990 and good timing (as the cars will be sold on a first-come, first-served basis). Ordering opens up next month with production commencing in July. Check out the press release below.

Ford Mondeo with 1.5-liter EcoBoost debuts in China

Does the car above, posing fancifully in white, look familiar? Well, it should. Although it wears Mondeo badges in the form you see above for the Chinese market - as it does in Europe - the car is basically the same thing sold in the US as the Ford Fusion. Of course, it's what's under that shapely skin that counts.
Ford has chosen the Shanghai Motor Show as the venue with which to unveil its 1.5-liter EcoBoost four-cylinder engine. We'd heard about the engine before, but now we have a few performance estimates to share: 133 kW of power (about 178 horsepower) and 240 Nm of torque (about 177 pound-feet).
Those numbers pretty much confirm previous rumors indicating about 177 in each category, and it's right on par with what Ford's own 1.6-liter EcoBoost produces. Ford is claiming best-in-class fuel economy as well, but no specific figures have yet been provided. In any case, we'll surely have all the data soon enough, as the 1.5-liter mill is destined for the US Fusion in 2014.