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Dodge Hornet is go

By Tim Pollard Motor Industry 04 July 2007 12:30 The newly independent Chrysler Group has saved its deal with Chinese maker Chery - which means that the Dodge Hornet is a step closer to production. Dodge needs a partner with which to develop new smaller cars, like the Hornet, as it's too cash-strapped to fund them solo. The deal signed last night means that the two car makers will 'work together to develop, manufacture and distribute Chery-made small and sub-compact cars in North America, Europe and other major automotive markets under the Chrsyler Group brands.' No mention was made of the Hornet, but Chyrsler’s international director for sales and marketing, has previously told CAR Online that the firm would produce the butch supermini.

Audi set to buy Ducati for $1.1 billion

News wire reports in Europe on Tuesday said Audi is poised to buy Ialian motorcycle maker Ducati from owner Investindustrial for about $1.1 billion (860 million euros). Audi has reached an agreement with Investindustrial to buy the maker of luxury motorbikes, with VW's supervisory board set to approve the deal on Wednesday, said a person familiar with the details, who declined to be identified discussing the private negotiations. Audi and Investindustrial declined to comment.

Saab ends deal with Chinese investors

Saab owner Swedish Automobile scrapped a $340 million investment deal with Chinese automotive companies Zhejiang Youngman Lotus and Pang Da after they proposed a buyout, straying from the original deal. Youngman and Pang Da signed a nonbinding agreement in July to take a combined 53.9 percent stake in Swedish Automobile. The Chinese companies say circumstances have changed since that time, so the deal should too.