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Saab gets latest lifeline via $5 million infusion from Chinese company

Saab has been on the edge of collapse since a cash shortage early this year forced it to halt production. Now Automotive News reports that a last-minute payment from China's Zhejiang Youngman Lotus Automobile has given the Swedish carmaker yet another shot. Youngman wants to get a stake in Saab and has taken the first step by giving the company $5 million to cover tax expenses, with another $26.43 million forthcoming for unpaid salaries and $13.18 million more before the end of December.

Paul Walker crash 'caused by speed'

CRASH INVESTIGATORS have determined that the Porsche carrying "Fast & Furious" star Paul Walker was travelling at approximately 90mph when it lost control on a California street and smashed into a light pole, killing the actor and his friend. A person who has reviewed the investigators' report said that it concluded unsafe driving, not mechanical problems, caused the crash. The report says driver Roger Rodas was going between 81mph and 94mph when his 2005 Porsche Carrera GT began to drift as it lost control after coming out of a curve.

Ian Cameron receives Welsh Motoring Writers' Automotive Achievement Award

Former Rolls-Royce chief designer Ian Cameron is the latest recipient of the Welsh Motoring Writers (WMW) Automotive Achievement Award. The award was presented at the WMW annual dinner at HMS Nelson's Wardroom in Portsmouth, UK, by the group's patron and former winner, Land Rover director of design Richard Woolley. "As we celebrate a decade since the launch of Phantom and the establishment of the new home of Rolls-Royce in Goodwood, West Sussex, it is a most fitting time for Ian to be bestowed with this honor," said James Warren, Rolls-Royce product and corporate communications manager, UK.