Gas Tank For Quarter Midget on 2040-parts.com

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

One lap of the Web: A drive with Magnus and drifting an Jag XJ220

Unkempt Porsche trend-maker Magnus Walker's brand of customized 911 has the world buzzing. If the magazine covers and documentaries aren't enough, consider that one of his builds just sold for $302,000 at Gooding's Monterey Sale -- against a high estimate of $150,000. Pretty steep for a customized 911.

Vintech P550 Tribute – Porsche 550 reborn (2012)

French company Vintech will show this classy P550 Tribute coupe at the 2012 Pebble Beach concours this week. No prizes for guessing that it's inspired by Porsche's pert 550. The P550 Tribute is a carbon-bodied two-seater due to be shown at the The Quail: A Motorsports Gathering on 17 August 2012.