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GM, Koenigsegg sign deal on Saab sale

General Motors Co. reached a deal Tuesday to sell its money-losing Swedish subsidiary Saab to Koenigsegg Group AB. The companies signed a stock purchase agreement that would give the tiny Swedish supercar maker 100 percent of Saab's shares, GM Europe said in a statement.

Design Contest: Renault Design competition 'Imagine Espace in 2024'

The competition to 'Imagine Espace in 2024' has been won by Romain Gauvin, a fifth-year student at Strate Coll?ge in Paris. Renault Design organized the competition to coincide with the 20th anniversary of the Espace, inviting entries from students at its partner design schools in France (Strate Coll?ge) and Germany (Pforzheim University). "My intention was to design a car that travels on the ground yet feels like it is soaring through the sky, like flying a hang-glider", explains Romain Gauvin.

Peugeot 407 Coupe (2009) drops petrol engines

By Richard Webber First Official Pictures 10 July 2009 09:40 Peugeot has dropped petrol engines altogether from its gawping 407 Coupé and will only be offering oil-burners in the revised range. The reworked 2.0-litre unit improves in economy and power, but the big news is a new 3.0-litre V6, which will be Peugeot’s most powerful production engine ever. The V6 unit was a joint development by PSA and Ford, and produces 241bhp and a hefty 331lb ft of torque between 1600 and 3600rpm.