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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED
Mon, 31 Oct 2011Saab: 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.
Bentley planning big model expansion
Thu, 24 Jul 2014It looks like the last Bentley Brooklands (pictured) will not be the last after all We already know that the Bentley SUV is on the way shortly to take on the might of the new Range Rover, and it seems certain there’s about to be Bentley Mulsanne Speed as Bentley rolls out its ‘Speed’ moniker to its most prestigious car. But there’s more to come. When we reported the Mulsanne Speed was on its way last week, we noted that if Bentley were adding a Speed version of the Mulsanne to their range to expand it then it surely made sense to launch a Mulsanne Coupe and Convertible too.
Peugeot 508 RXH (2011) first official pictures
Mon, 11 Jul 2011Peugeot isn’t going to replace the 607, its big French attempt at taking on the hegemony of Audi, BMW and Mercedes. Instead the plan is to offer its Mondeo-sized 508 in posh, premium specs, and to tempt buyers with this, the 508 RXH. And the Peugeot 508 RXH is…?