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Saab deal no longer valid says Pangda Chairman. The end of Saab?

Saab deal with China not valid says Pangda Chairman Update 10 am 12/10/11: Saab & Pangda have issued a statement about this story and say that the reports of the Saab deal with Pangda and Youngman as being no longer valid are “…based on a misunderstanding”. Whatever that means. Yesterday there was yet more speculation that Saab will be declared bankrupt as real doubt about the deal with Chinese companies Pangda and Youngman started to surface.

Mercedes Electric Drive B-Class at Paris 2012

Mercedes has revealed an electric version of the new B-Class – the B-Class Electric Drive Concept – which will debut at Paris 2012. Mercedes has revealed the electric B-Class in the guise of the B-Class Electric Drive Concept – a name Mercedes say will find its way on to the boot of all electric Mercedes, Smart and Tesla cars – which previews a production version by 2014. Powering the B-Class Electric Drive is the Smart electric Drive powerplant, located in the space normally taken up by the ICE, which offers 134bhp and a healthy 228lb/ft of torque with the batteries to power the electric motor housed in what Mercedes are calling the B-Class’s Energy space ahead of the rear axle.

Carbon Motors denied government loan for police cruiser

Carbon Motors, an Indiana-based company that aims to build police vehicles, said on Wednesday that the Department of Energy has denied its application for a loan under the Advanced Technology Vehicle Manufacturing program. The loan program was created under President George W. Bush and continued with President Barack Obama.