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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.

Photos reveal the all-new Ford Mustang -- of 1979

If you need further proof that everything old is new again, just look at the engine options for the upcoming 2015 Ford Mustang. That optional 2.3-liter turbocharged inline-four is generating a lot of buzz; it's expected to help keep the car sporty while cutting down on fuel consumption, and it's going to help the Mustang make headway in overseas markets. Adding a turbo-four to the pony car equation isn't exactly novel: The Blue Oval put a forced-induction motor with the same cylinder count, configuration and displacement in the 1979 Mustang.

College Exhibition: Royal College of Art Show 2006

Fifteen final year students at London's Royal College of Art postgraduate Vehicle Design course have displayed their work in the second part of the internationally renowned annual graduation show. The show featured the work of students in Vehicle Design, Design Products, Industrial Design Engineering, Architecture and Interiors, Computer Related Design, Textiles, Animation, Communication Art and Design, Conservation and History of Design. For the 19th year Pilkington Automotive sponsored the RCA's Vehicle Design Awards.