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U.S. equity firm to invest $70 million in Saab
Thu, 20 Oct 2011Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.
BMW 1-Series M Coupe (2011): more details
Sun, 08 Aug 2010BMW's readying a pocket-sized M3 for those on a smaller budget: the BMW 1-Series M Coupe. While official information remains scarce on this 2011 pocket rocket, we've grabbed a few more pointers to its performance and stats. Set to be launched in early 2011, the 1-series based M spells a return to more lightweight M cars after the X6 M and its ilk that strained relations with the most fervent M division fans.
Drayson Racing and RCA launch EV racing car contest
Thu, 06 Dec 2012Drayson Racing has launched a contest with the Royal College of Art's Vehicle Design program to design electric racing car concepts for the FIA's new Formula E series, which is set to start in 2014. The RCA's students are asked to present designs that explore new themes within the technical constraints as part of this course's curriculum. The previous Drayson Formula E concept was developed by Sergio Rinland who will be part of a series of workshops and lectures on aerodynamics, engineering packaging, production engineering and materials, giving students the technical knowledge to develop their designs.