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Chrysler is set to invest $500 million in Toledo Jeep assembly plant

Chrysler Group plans to invest $500 million in its Toledo North Assembly Plant and hire a second shift of workers over the next year to build a new Fiat-based SUV for Jeep, as well as other vehicles. "This plant has been chosen to build the future Jeep SUV to replace the current Jeep Liberty that will be exported to markets all over the world," CEO Sergio Marchionne said at the plant Wednesday. "Jeep is at the heart of our plans to internationalize Chrysler, a process which is being accelerated by Chrysler's access to Fiat's distribution capabilities in Europe and Latin America." Toledo North is Chrysler's only assembly plant with only one shift of workers.

Saab reportedly bought by Chinese-led consortium

A Chinese-controlled consortium has completed a deal to buy the assets of bankrupt Swedish carmaker Saab, media reports said. National Electric Vehicle Sweden (NEVS) will pay 1.5 billion to 1.8 billion kronor ($210 million to $250 million) for Saab, excluding spare parts company Saab Automobile Parts AB, according to reports in Sweden. NEVS did not confirm the reports.

Top 5 hatches of the 2014 Geneva motor show

By Ollie Kew First Official Pictures 05 March 2014 11:00 There’s a wildly diverse crop of new hatches at the 2014 Geneva motor show: a rear-drive city car, a firecracker of a crossover, new concept cars and even a lap time world record holder. Here are CAR’s Top 5 hatches of the 2014 Geneva show – and the customary dishonourable mention… The Mazda Hazumi concept is essentially what the new Mazda2 will look like when it hits showrooms – and it’s set to give the mainstream makes a proper fight. Mazda isn’t just on a styling roll of late – even the Mazda3 and Mazda6 are arguably the most handsome cars in their respective classes – but are building cars that are sensibly priced, affordable-to-run and damn good fun to drive.