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Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab 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.
Tesla Model S deliveries scheduled
Tue, 22 May 2012It's been a big day for Elon Musk. First, his company, SpaceX, launched a rocket into space on a mission to resupply the International Space Station. Next, another of Musk's companies did something that many thought was even more improbable--Tesla has scheduled customer deliveries of its first sedan, the Tesla Model S.
Hyundai and ARK introduce Legato Concept for SEMA
Mon, 07 Oct 2013Hyundai is adding the Legato Concept to its SEMA stand in Las Vegas. The sleek, silver coupe is based on the Genesis and will debut Nov. 5.