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Saab China – Deal Dead
Mon, 24 Oct 2011Saab has terminated the deal with Youngman and Pang Da Did we expect anything different? Saab has announced that the deal for Chinese companies Youngman and Pang Da to take a €245 million stake in Saab has been terminated. Saab say that they have terminated the agreement because Pang Da and Youngman have failed to confirm their commitment to the Subscription Agreement on the agreed terms, and the money the Chinese (according to Saab) were to pay by this weekend has not been received.
Marchionne's dilemma: To sell or not to sell Alfa to Volkswagen?
Wed, 01 Dec 2010Fiat CEO Sergio Marchionne's self-confidence has helped him tackle problems that lesser executives would duck, but he may have met his match. In a public test of Marchionne's faith in his own turnaround strategy, in September Volkswagen Chairman Ferdinand Piech bluntly announced that he wants to buy Alfa Romeo. Piech was suggesting that VW--and only VW--could transform Fiat's perennial money-losing brand into a real moneymaker.
First Chinese MGs built
Tue, 27 Mar 2007By Jack Carfrae Motor Industry 27 March 2007 02:17 Today is an historic day for Nanjing Automotive as the first MG built outside Longbridge will leave the production line at Nanjing’s factory in China. Around 1000 visitors are gathering at the plant to join in with the celebrations, where the new, Chinese-built MGs will be on display (above). The first cars off the production lines are the MG TF and the MG 7, which Brits will remember as the MG ZT.