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Saab seeks court protection from creditors

Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.

Chrysler moves design boss Ralph Gilles to lead new SRT brand

Chrysler Group on Tuesday shuffled the heads of its vehicle brands, placing design chief Ralph Gilles in charge of the newly created Street and Racing Technology (SRT) brand while handing his duties as head of the Dodge brand to Reid Bigland. The move is a way of getting all of the automaker's SRT efforts together under one leader, spokeswoman Shawn Morgan said. Gilles, 41, will still be in charge of Chrysler's motorsports activities and the design for Chrysler, Dodge, Ram and Jeep vehicles.

Radical Cup comes to North America

The 2013 Radical Cup USA schedule was announced on Wednesday. The brand new gentleman-racer series will host 12 events over six weekends, beginning in March at Miller Motorsports Park in Utah and is set to wrap up in September at the Monticello Motor Club in New York. The 270-hp Radical SR3 and 460-hp Radical SR8 already compete in one-make series’ in Europe, Australia and the Middle East.