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Koenigsegg signs deal to buy all of Saab

By Tim Pollard Motor Industry 18 August 2009 10:17 Supercar maker and industrial group Koenigsegg today announced it had signed the deal to buy every one of GM's shares in Saab. The news clears the way for Saab's rebirth as an independent car maker freed from the shackles of General Motors and follows an earlier memorandum of understanding. Koenigsegg has signed the stock purchase agreement to buy 100% of Saab – but there are still numerous hurdles before the deal completes 'in the next few months.' Exactly.

2012 Lada Granta could see Lada return to the UK

2012 Lada Granta could see Lada back in the UK Lada reveals their new car – the Lada Granta, based on the Kalina hatchback – which could see Lada return to the UK. For those old enough to remember, Lada was once renowned as the maker of skips on wheels, in such illustrious company as Skoda, Yugo and Moskvitch. Yugo has bitten the dust, as has Moskvich, and Skoda has re-invented itself under VW as a credible player.

Motor City to Mile High: Chrysler and Mopar sponsor cross-country rally

Chrysler and Mopar are taking fans on an adventure, or a MoVenture, as they call it. The company is hosting a scavenger hunt across America, beginning on July 15. The road rally begins in Detroit and ends in Golden, Colo., at the Mopar Mile High NHRA Nationals, which runs July 22-24.