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Motor City to Mile High: Chrysler and Mopar sponsor cross-country rally

Chrysler and Mopar are taking fans on an adventure, or a MoVenture, as they call it. The company is hosting a scavenger hunt across America, beginning on July 15. The road rally begins in Detroit and ends in Golden, Colo., at the Mopar Mile High NHRA Nationals, which runs July 22-24.

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.

Mazda Minagi (2011) at 2011 Geneva motor show

Mazda is preparing the ground to launch a new CX-5 – a junior crossover to slot beneath the CX-7. The Mazda Minagi concept car is being launched at this week’s 2011 Geneva motor show and previews the production car expected this autumn. But as well as heralding a new junior crossover in the Mazda fold, the Minagi also showcases the company’s new Skyactiv engineering philosophy and Kodo design mantra.