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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.
Land Rover Defender Challenge by Bowler – the Defender goes rallying
Thu, 31 Oct 2013The Land Rover Defender goes rallying (pictured) with Bowler modifications The venerable Land Rover Defender – now reaching the end of its shelf life – may not seem the perfect rally car. But a Defender tweaked and fettled with some Bowler Fairy Dust is another matter, and that’s exactly what’s happening with a new, one-make Defender Challenge by Bowler – and backed by Land Rover – which is aiming to put up to fifteen Defenders in to UK forest stage rallies and hill rallies in 2014. The Defender in question is a Defender 90 Hard Top with the usual 2.2 litre diesel, but sorted by Bowler to deliver 170bhp and 323lb/ft of torque (up from the regular 122bhp/266lb/ft) with a standard six-speed manual ‘box, MSA roll cage, fire extinguisher and Khumo tyres.
Mercedes SLS Black Series: The Video
Sun, 11 Nov 2012Just a couple of days on from the reveal of the new Mercedes-Benz SLS AMG Black Series, Mercedes delivers a video of their new Black Series. And the SLS Black probably gets closer to what the McLaren SLR offered than the regular SLS does, although it’s still down on the power of the SLR, and its performance to 62mph is no better and its top speed is 10mph slower. Still, even if it will cost around £200k, it’s still a big chunk cheaper than the SLR was.