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Saab secures more funds as it seeks to avert collapse

Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'.  Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.

Maserati names new North American boss

Update on McNabb Maserati has named longtime Chrysler executive Bob Graczyk as CEO of its North American division. He replaces Mark McNabb, who previously worked for Cadillac and Infiniti. McNabb had led Maserati since June 1, 2009.

McLaren P1: New photos & video of production P1

The McLaren P1 production car pictured hot weather testing We’ve had a surprising amount of McLaren P1 news in the last couple of weeks, with a claimed lap time at the Nurburgring that didn’t quite meet expectation, P1 customer Jay Leno getting to grips with the P1 at the Top Gear track  and the news that the P1 is all but sold out. Now, with the first P1s getting close to delivery (McLaren are about to start building customer cars at the rate of one a day), McLaren has released photos and video from their final stint of hot weather testing in the US, with a completely undisguised, production version P1. McLaren have been in the west of the US, where temperatures reach 52 degrees, putting the P1 through its paces in extreme heat in California, Nevada and Arizona, both on the road and at the Willow Springs International Raceway in California, just to be sure it doesn’t melt in the sun.