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News watch October 2011: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourMonday 31 October 2011• The two companies planning to buy Saab - China's Youngman and Pang Da - have agreed to pay a €50 million bridging loan, court documents show. And they are pledging €610m in long-term funding from 2012, according to ANE (Automotive News Europe)  • Martin Winterkorn, the CEO of the Volkswagen group, says he is pleased with the performance of Seat and Skoda.

Saab 9-3 ePower – First electric Saab revealed

The Saab 9-3 ePower - will spawn a 70 car test fleet fo electric Saabs It’s great to see Saab back doing what a car maker should be doing, instead of fighting for survival under the cosh of the big, bad Yanks. Sadly, Saab are doing what much of the car world is also doing; paying lip service to the concept of big electric cars. Oh, well.

Porsche Panamera Diesel- it’s official

Porsche Panamera Diesel - a frugal Panamera offering The headline sounds as if there might have been doubts that we would get a Porsche Panamera Diesel before too long. But, despite the general perception that ‘Diesel Porsche’ should be an oxymoron, a Panamera diesel was always going to happen, as Porsche confirmed in November. It was always going to happen because – in the real world – it probably makes more sense than any of its petrol powered siblings for most potential buyers.