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Toyota will install brake override systems to prevent runaway vehicles
Tue, 12 Jan 2010Toyota will install brake override systems on all Toyota, Lexus and Scion vehicles by year end as a way to prevent unintended acceleration. The new system will be put in all vehicles globally, said Yoshi Inaba, president of Toyota North America Inc., in an interview at the Detroit auto show on Monday. The initiative follows a recall last fall of 3.8 million Toyota and Lexus vehicles in the United States to correct the problem.
Kia Pop concept (w/ Gallery)
Wed, 18 Aug 2010The Kia Pop will make its world debut at the Paris motor show, but the Korean manufacturer has released these digital renders of the electric city car concept in advance. At three meters long, the Pop is similar in length to the Toyota iQ. It features a wave-like front bench seat making room for a single rear occupant behind the front passenger. Designed by a team headed by Gregory Guillaume at Kia's European design center in Frankfurt under Peter Schreyer, the Pop mixes the Sportage's strong surfacing with a playful lozenge-shaped DLO.
Saab unable to pay wages as financing crisis deepens
Fri, 24 Jun 2011Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.' While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.