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Saab turns down takeover offer from Chinese investors

Swedish Automobile, owner of Saab, has turned down a takeover offer from China's Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. Youngman and Pa Dang signed a nonbinding memorandum in July to take a combined 53.9 percent stake in Swedish Automobile for about $338 million.

Lexus launches own Design Award contest

The first Lexus Design Award has been launched that gives the next generation of designers the chance of seeing their work showcased at next year's Milan Design Week. The theme of this global competition is ‘Motion', with Lexus looking for designs that respond to issues 
in daily life that relate to ‘Motion' as well as providing solutions. Two of the ten award winners will then develop prototypes with a renowned designer – either Sam Hecht or Junya Ishigami – acting as their mentor.

Citroen DS3 at 2009 Frankfurt motor show

By Tim Swietochowski First Official Pictures 24 August 2009 11:37 Citroen has unveiled the production version of its DS3, which will be displayed for the first time at the 2009 Frankfurt motor show. It is a brave decision by Citroen to revive the DS badge – standing for déesse (or goddess) and first seen on the pioneering 1950s DS. Based on the next C3, the DS3 is the first of a new range of ‘near-premium’ models, which will eventually include posher DS4 and DS5 derivatives based on future C4 and C5 models.