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Saab gets latest lifeline via $5 million infusion from Chinese company
Tue, 13 Dec 2011Saab 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.
Five tips to keep your tires in top shape
Wed, 08 Jun 2011Tire safety isn't exactly the sexiest topic in the car universe, but it's National Tire Safety Week. This is a good reminder to those of us who are generally more concerned with fun stuff like horsepower to spend a moment thinking about where the rubber meets the road. “Ten years ago, NHTSA and AAA helped Rubber Manufacturers Association (RMA) launch National Tire Safety Week,” said Charles Cannon, RMA president and CEO.
Tesla teases Model S prior to debut
Thu, 12 Feb 2009Prior to its world debut on March 26, Tesla has decided to whet the appetites of green-car fans by releasing a teaser image of its upcoming Model S sedan. Under the direction of former Mazda designer Franz von Holzhausen, the Model S features a rounded front nose, a front fender plate with an affixed Tesla emblem and a noticeably shorter hoodline. Unlike the Fisker Karma, the Model S will be powered solely on battery propulsion and do without a range-extending engine, which helps accommodate the shorter hood.