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Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.

174-mph Volkswagen Golf R400 heads for Beijing motor show

Volkswagen has divulged plans to reveal a spectacular new Golf R-based concept car called the Golf R400 at this weekend's Beijing auto show. Said to preview a possible limited production model from Volkswagen's increasingly active R performance car division, the Golf R400 runs a powered-up version of the Golf R's turbocharged 2.0-liter direct-injection gasoline engine aimed at providing it with the sort of firepower to match the current king of the Euro hot hatchback brigade, the Mercedes-Benz A45 AMG. VW The VW Golf R400 makes 395 hp from a 2.0-liter turbocharged four-cylinder engine.

New 2013 Nissan LEAF goes the ‘Battery Lease’ route UPDATED

Even though you will be paying the same rate as you did in the first year, you’ll have to make do with the old batteries unless they fall below the 9 bar level, when Nissan will replace them under warranty. There is no doubt that Nissan are still convinced the future is the electric car, and the LEAF – the world’s best-selling electric car – is the future of motoring. And the LEAF is a convincing car if all you want is a well-built family car to transport you round your local area, even if it will cost an arm and a leg to buy in comparison to an ICE car.