1973-1979 Ford Xlt Emblem on 2040-parts.com

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Warm up for Cars 2 with new preview

Lightning McQueen, Tow Mater and a new cast of characters get back on track this Friday as Cars 2 hits theaters. We've already given you some early info. But now our friends at Disney and Pixar have posted a five-minute clip from the movie on the Internet.

BMW X5 (2010 / 2011) Revealed

The BMW X5 2010 / 2011 Facelift Update: We now have high-res pictures and UK details and prices for the 2010/2011 BMW X5. I know, to us in the UK – and Europe for that matter – this is the 2010 BMW X5. But for readers on the other side of the Pond this is the 2011 BMW X5 as it won’t start hitting the roads until later this year.