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Fisker to face Congressional committee probe
Wed, 24 Apr 2013Henrik Fisker's congressional testimony on Wednesday before the House Oversight and Government Reform Committee will paint the automaker he founded as a victim of "a confluence of events" and as a still-salvageable enterprise. Fisker, who resigned from Fisker Automotive on March 13, is among the automaker and government representatives scheduled to appear before Congress to answer questions regarding $193 million in Department of Energy loans made to the company. Fisker Automotive has appeared to be on the brink of filing for bankruptcy for the past few weeks.
China's Pang Da, Youngman agree to buy Saab
Fri, 28 Oct 2011Chinese firms Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. have agreed to buy Saab for $142 million (100 million euros).
Toyota hands over small-car development to its European unit
Tue, 20 Dec 2011Toyota Motor Corp.'s European division next month will take charge of global product planning for small cars as the Japanese automaker expands model research and development in the region. The change, announced Dec. 17, means that Toyota will count on Europe to develop future products in the minicar, subcompact and compact segments, something that Ford Motor Co.