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Saab files for bankruptcy

Struggling Swedish manufacturer, Saab, has finally filed for bankruptcy. What may well prove to be the closing chapter in this ongoing saga could see the iconic brand laid to rest following months of uncertainty. A statement by parent company, Swedish Automobile NV (Swan) announced that: ‘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.

Chrysler to build ZF's eight-speed transmission in Indiana

The Chrysler Group plans to spend $300 million to build a new eight-speed automatic transmission licensed from ZF Group, a transmission maker headquartered in Friedrichshafen, Germany. The investment will pay for installation of special tooling and equipment at Chrysler's Transmission Plant 1 and Kokomo Casting Plant in Indiana and help retain 1,200 jobs there, Chrysler said Wednesday. Production will start in 2013.

New Lexus LS600 Hybrid launches at Frankfurt

The revised 2010 Lexus LS600h Hybrid The 2010 version of the LS600h gets a set of styling tweaks, which include modifications to the front end with LED indicators, new bumper and grill, and new fog lights. Other changes include the door mirrors and chrome detailing. This hybrid only LS600 (Lexus has said they intend only making hybrids in future ) has had improvements made to the Hybrid System including an ‘Eco’ mode which effectively turns down throttle response to make the LS600h more economical.