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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.
2015 Chevrolet Corvette Z06 unleashed at Detroit Motor Show 2014
Tue, 14 Jan 2014Hoist up your Stars & Stripes and crank up your Bruce Springsteen tunes, because the 2015 Chevrolet Corvette Z06 has finally broken cover at the 2014 Detroit Motor Show. This is a Chevrolet Corvette C7 Z06 like we've never seen before. And given that Chevrolet claims it's the "most track-capable Corvette in history", you may find it hard to keep up with it, too.
Land Rover sending more Range Rover Evoques to the US
Fri, 20 Jul 2012Land Rover are increasing the supply of the new Range Rover Evoque to the US by a third to help meet demand. In the land where cubic inches are king and any SUV smaller than a Hummer isn’t really an SUV, it’s amazing that the dinky Range Rover Evoque is a hit – but it is. From sales of just 2,200 Evoques in 2011, Land Rover has managed to shift twice that in the first six months of 2012, and Land Rover dealers are still complaining they can’t get enough Evoques to meet demand.