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Volkswagen to buy 42 percent of Porsche, full merger planned

Thu, 13 Aug 2009

Volkswagen will buy 42 percent of Porsche's sports-car business en route to a full merger by the end of 2011, the companies announced Thursday. VW will pay $4.7 billion for its initial stake in Porsche. It positions the new company to have 10 brands and global sales of 6.4 million, and Volkswagen CEO Martin Winterkorn is likely to lead the entity.

Peugeot Quartz

Thu, 18 Sep 2014

In addition to a Europe-specific version of the Exalt concept, Peugeot will reveal a new show car in Paris. Called the Quartz, it follows themes established by the Onyx, shown in Paris two years ago, and the Exalt, which debuted in Beijing earlier this year. At 4,500mm long and 2,060mm wide, the Quartz is the smallest of the three, and, more obviously, switches coupé for crossover aesthetics.

Saab seeks court protection from creditors

Wed, 07 Sep 2011

Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.