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Spyker warns that Saab's future is 'uncertain' without fresh funds

Spyker Cars NV, the Dutch parent of Saab, said the Swedish automaker's financial situation is worsening and warned that Saab's future is at risk without additional financing. In its annual report released today, Spyker said the company's "continuity" could become uncertain unless it secures extra funds to finance ongoing operations and the execution of its business plan. Earlier this week, Saab was forced to shut down production for short intervals after key suppliers halted parts deliveries for non-payment.

Mercedes-Benz Launches 'Style' Division

Mercedes-Benz has launched Style, the Stuttgart-based automaker's answer to BMW's DesignworksUSA design consultancy. Mercedes-Benz's Style sub-brand will be charged with designing bespoke luxury goods from aircrafts, to yachts, furniture and more. Its aim is to place the company in the avant-garde of the luxury market.

Ford names Freeman Thomas as Strategic Design Director

 Long-time DaimlerChrysler designer Freeman Thomas is joining Ford Motor Company from June 1. Thomas, 47, will become director of Strategic Design, reporting to Peter Horbury, executive director of Design, North America. Based in the company's Irvine, California studio, Thomas will lead advanced design teams in both California and Dearborn.