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Saab EIB loan repaid by Swedish Government

Sweden has repaid Saab's EIB loan With Saab in administration, the European Investment Bank (EIB) has called in the Swedish Government guarantee on Saab’s loan. In the midst of Victor Muller’s efforts to restructure Saab, Saab received access to a European Investment Bank loan of €400 million, of which it accessed some €217 million. But just like any less than credit worthy individual Saab needed a guarantor for the loan, which they received from the Swedish Government.

Nissan Qashqai production to leave UK for Russia

Nissan has built more than 1 million Qashqais in Sunderland Nissan has revealed it is planning to move some of the production of the Nissan Qashqai to Russia to avoid import duty. The Nissan plant in Sunderland is a real success story, not just for Nissan but for the UK economy as a whole. Last year Sunderland produced over 400,000 cars – many of them exported – including the Qashqai, Juke and Note and next year it will start to build the Nissan LEAF for Europe.

Corvette Z06 (2015) official power stats revealed

By Michael Karkafiris Motor Industry 09 June 2014 13:38 The new Corvette Z06 is officially GM’s most powerful product as it finally announces the vital stats: 641bhp and 650lb ft from the supercharged LT4 6.2 V8. This means that the new model is not only more powerful than the previous one (of course it is),  but it beats also the crazy C6 ZR1 as well, putting it on a par with true exotics, at least when engine figures are concerned. GM says that 0-60mph takes under 3.5sec.