66 67 Corvette Front Grille on 2040-parts.com

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Volvo Concept XC Coupe at Detroit Auto Show – previews the new Volvo XC90 (+ video)

The Volvo Concept XC Coupe (pictured) will debut at Detroit next month Volvo are heading to the Detroit Auto Show next month with the second of three concepts planned utilising their new scalable platform architecture which will underpin almost all future models – the Volvo Concept XC Coupe. The first of the three new concepts from Volvo came at the Frankfurt Motor Show back in September as the Volvo Concept Coupe – a new take on Volvo’s iconic P1800 – but this time we get a concept that points firmly at the new Volvo XC90, due in a year’s time as a 2015 model. We’ve already got some idea of what Volvo’s designers think the new XC90 should look like, but the styling cues on the Concept Coupe – and the teaser photos of the Concept XC Coupe (above) – give us a much clearer view of what Volvo are planning for one of their most successful cars.

Better Place Electric Car visitor centre opens

Better Place have opened a visitor centre in Israel to demonstrate their battery swap technology for electric cars Last October we wrote about a start-up company in Israel – Better Place – that had a new way forward for electric cars by taking the purchase of battery packs out of the equation, and was developing a system for ‘Battery Swap’ stations where electric car owners could drive in and swap their battery pack for a fully-charged one in a few minutes. That story first brought to our attention our favourite quote of last year – by Nissan boss Carlos Ghosn – who said “A hybrid is like a mermaid: if you want a fish, you get a woman; if you want a woman, you get a fish.” Which probably explained why Nissan – and its partner Renault – got involved with Better Place. Better Place aims to address the main concerns of electric car drivers by making the battery packs in electric cars ‘swappable’.