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Saab EIB loan repaid by Swedish Government

Sweden has repaid Saab's EIB loan With Saab in administration, the European Investment Bank (EIB) has called in the Swedish Government guarantee on Saab’s loan. In the midst of Victor Muller’s efforts to restructure Saab, Saab received access to a European Investment Bank loan of €400 million, of which it accessed some €217 million. But just like any less than credit worthy individual Saab needed a guarantor for the loan, which they received from the Swedish Government.

ZAP electric car

California-based ZAP has completed the initial concept phase for a new electric vehicle claimed to hit a top speed in excess of 100 mph with a range of 100 miles per charge.  "With ZAP's experience over the past 12 years and the groundwork we have already laid, we know that electricity is the future of the auto industry," said ZAP CEO Steve Schneider.  "At the same time, we believe we have a design that will serve a niche no other manufacturer in the auto industry is seeking to fill." More details of the car will become available at the end of the month.

Lamborghini Urus SUV concept (2012) leaks early

Lamborghini's SUV show car, the Urus 4x4 concept, has leaked early ahead of its planned debut at the 2012 Beijing auto show this weekend. These leaked photos of the Lamborghini Urus reveal a swooping, coupe-alike crossover - marrying the style of a Lamborghini Reventon or supercar with the stance of an SUV. Lamborghini Urus: the leaked images We'd been expecting a sleek crossover, especially since yesterday's media invitation revealed an outline sketch of the Urus.