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Jaguar Mark 2 by Ian Callum revealed (video)

Ian Callum and his ‘new’ Jaguar Mark 2 More than a year ago we reported that Jaguar designer Ian Callum was working with Classic Motor Cars (CMC) to redesign and recreate the perfect Jaguar MK II. And now it’s finished. The finished car has been revealed at the official opening of CMC’s new HQ in Shropshire, and although the updates Callum has made to the Mark 2 may not be to everyone’s taste, they are impressive and the car does look glorious.

£10 million cash boost for Lotus

Business secretary Vince Cable has visited Lotus’ Norfolk headquarters today, where he announced the company would be awarded £10.44 million from the Regional Growth Fund. The money will be used for research and development of products, as well as staff training. The sports car company expects to create 313 full time jobs to support production over the coming years.

Saab owner and Chinese investors continue talks regarding takeover deal

Talks between Saab's owner Swedish Automobile and two Chinese investors on a takeover deal to rescue the ailing carmaker will continue even though a memorandum of understanding signed by the parties only runs until Tuesday, Saab said. "They (the parties) are still in discussions about the structure of the deal going forward and they are continuing their cooperation as if the memorandum of understanding continues," Gunilla Gustavs, a Saab spokeswoman, told Automotive News Europe. The Chinese companies, Pang Da Automobile Trade Co.