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U.S. equity firm to invest $70 million in Saab
Thu, 20 Oct 2011Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.
Bugatti Veyron 16.4 Super Sport hits 268 mph
Sun, 04 Jul 2010Bugatti is claiming a new production-car top-speed record with a combined two-run average of 267.9 mph (431.072 kph) with a new Veyron 16.4 Super Sport model, smashing the 253.76-mph record set by a standard Veyron 16.4 in 2005. It also betters the existing world-record mark of 256.23 mph (412.28 kph) established by Shelby SuperCars with its Ultimate Aero on a 12-mile stretch of road in Nevada in 2007. Confirming details of the attempt run under tight security at parent company Volkswagen's 13-mile Ehra-Lessien test track in late June, Bugatti says the new Super Sport set the record in the hands of its test driver, Pierre-Henri Raphanel, and under the auspices of officials from the Guinness Book of Records.
Mercedes supercars
Tue, 29 Jul 2008By Tim Pollard 29 July 2008 09:00 The SLR is the fruit of a strange motor industry marriage. Collaborating as they do in motorsport, Woking and Stuttgart decided to build a road car that showcased their full-bodied technical know-how. Perhaps the mixed messages from F1-centric McLaren and luxury brand Merc, or the untold pressure of the seminal F1, were too much, for the SLR has failed to worm its way into our affections.