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Saab gets latest lifeline via $5 million infusion from Chinese company

Saab has been on the edge of collapse since a cash shortage early this year forced it to halt production. Now Automotive News reports that a last-minute payment from China's Zhejiang Youngman Lotus Automobile has given the Swedish carmaker yet another shot. Youngman wants to get a stake in Saab and has taken the first step by giving the company $5 million to cover tax expenses, with another $26.43 million forthcoming for unpaid salaries and $13.18 million more before the end of December.

Ferrari celebrates 30 years in Hong Kong

ICONIC sporting brand Ferrari turned on the style to celebrate 30 years of presence in Hong Kong. Ferrari's president Luca di Montezemolo was in attendance alongside a spectacular display of over 600 Ferraris - the largest gathering ever in Greater China - arranged to form the traditional five-petal flower. The gathering also was used to show the firm's latest offering the 458 Speciale which was unveiled by Marc Gene, the Scuderia F1 team's chief test driver.

Renault Wind – née Renault Twingo CC – announced

The Renault Wind will debut at the Geneva Motor Show It’s not exactly a secret that Renault has been planning a coupe/cabriolet version of the Twingo for some time. First revealed at the Geneva Motor Show in 2007, we reported back in April last year that the Twingo CC would arrive this Spring; and it will. But as the Renault Wind.