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Spyker signs deal with China's Hawtai Motor to raise funds for Saab

Saab owner Spyker Cars on Tuesday said it has signed an agreement with China's Hawtai Motor Group to form joint ventures for manufacturing, technology and distribution. The agreement will also provide $222 million (150 million euros) funding for Saab, which has been forced to halt production because it cannot pay suppliers' bills. Victor Muller, Spyker CEO and Saab chairman, said the partnership will allow Saab to enter the Chinese car market with a strong Chinese manufacturer.

Porsche nearing 900 orders for its 918 Spyder hybrid concept

When Porsche AG showed the 918 Spyder at the Geneva show in March, we said it was a car to “make anyone a believer in hybrid supercar tech.” Well, maybe not anyone, but Porsche now says it has almost 900 potential buyers for the two-seater hybrid prototype as the German automaker gets closer to approving production. Porsche development chief Wolfgang Duerheimer said he is confident the company will soon reach the threshold of 1,000 orders, which is how many the company needs to “make a sound business case.” The 918 has 680 hp and, according to Porsche, will get 78 mpg and run from 0 to 60 mph in 3 seconds. Porsche said it wants to double its overall vehicle sales to 150,000 in the next five years or so.

Kia Soul: more details and photos

By Tim Pollard First Official Pictures 02 September 2008 09:37 Kia has issued some more details and photographs of its new tallboy supermini alternative, the Soul. Kia calls the Soul 'a segment-busting urban crossover' model, but we'd pigeonhole it as an intriguing new rival to the likes of the Honda Jazz and Vauxhall Meriva, with a small dose of Mini charm thrown in for good measure. So what exactly is segment-busting about the Kia Soul?Is Kia right to label the Soul its value answer to the Mini?