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Lotus not liquidating

When a storied car brand moves only 137 units in a year in the UK and 242 in the US, predictions of said marque's demise carry a certain amount of weight -- 137 is not exactly a number that makes an automaker too big to fail. When the manufacturer in question shows up on a government list of companies to be shut down, brand-enthusiast hearts get heavy; the early stages of mourning kick in. But when the company in question is Lotus, the enthusiast thinks to himself, “Eh, they've been in dire straits before.

Saab on brink of closing after GM rejects rescue plan

Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.

Britain to be third global production site for the Nissan Leaf EV after Japan, U.S.

Nissan Motor Co. said it will build the new Leaf electric vehicle at Britain's Sunderland assembly plant starting in early 2013, with initial capacity of 50,000 units. The Japanese company and its French alliance partner Renault will invest more than $642.6 million in the project, including the construction of a lithium ion battery plant on the site.