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Audi hosts student workshop in Design UNIverse

Audi has hosted a Design UNIverse event in Ingolstadt as part of its plan to support the next generation of automotive designers. 42 student designers from four European universities were challenged to create models of a futuristic Audi that embodies the idea of "Vorsprung Durch Technik" while working closely with designers and discussing trends and how to create emotional products. The students – from the Academy of Fine Arts and Design in Bratislava (Slovakia), Scuola Politecnica di Design in Milan (Italy), the Offenbach University of Art and Design (Germany) and the Royal College of Art London (Great Britain) – created 46 different models.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.

Koenigsegg One:1 to debut at 2014 Geneva Motor Show

The extreme Koenigsegg One:1 (pictured) will debut at the 2014 Geneva Motor SHow At the end of 2012 we exclusively revealed the first details of the Koenigsegg One:1, an extreme take on the Agera R and being built in very small numbers. Then, in September last year, we were able to flesh out what the Koenigsegg One:1 would offer after Koenigsegg revealed more details – and it is impressive. The One:1 will come with 1,400 HP and weigh in at just 1400 KG, and that weight includes all fluids and even the weight of an average driver.