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Saab secures more funds as it seeks to avert collapse

Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'.  Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.

Cars, planes--and one flying car--at Pacific Coast Dream Machines show

There's a pretty good chance that most car guys are also airplane guys, and vice versa. The organizers of Pacific Coast Dream Machines have known this for the last 20 years. So each April they gather a fine collection of both at the airport at Half Moon Bay, Calif., and open the gates.

Mitsubishi returns to Pikes Peak with all-new MiEV Evolution III

Mitsubishi is back again with an all-new version of its electric hill-climbing machine, the MiEV Evolution III. A pair of the fully electric race cars will compete in the 92nd running of the Pikes Peak International Hill Climb on June 29, held just outside of Colorado Springs, Colo. Replacing the MiEV Evolution II that came in second in the EV division in last year's, “Race to the Clouds,” the MiEV Evolution III comes with a full force of upgrades that look to bump it to first place.