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Saab EIB loan repaid by Swedish Government

Sweden has repaid Saab's EIB loan With Saab in administration, the European Investment Bank (EIB) has called in the Swedish Government guarantee on Saab’s loan. In the midst of Victor Muller’s efforts to restructure Saab, Saab received access to a European Investment Bank loan of €400 million, of which it accessed some €217 million. But just like any less than credit worthy individual Saab needed a guarantor for the loan, which they received from the Swedish Government.

Lotus's new 2010 Elise dips below 150g/km of CO2

By Tim Pollard First Official Pictures 09 April 2010 07:53 The new facelifted 2011 model year Lotus Elise has cut its CO2 output by nearly a fifth to a saintly 149g/km.It's a 16% improvement over the outgoing Lotus Elise S and Hethel claims 'the Elise has the lowest CO2 for its performance level for any gasoline sports car in the world.' Lotus is getting combative with the new Elise, pointing out that the Elise weighs just 876kg – while the Porsche Boxster sends the scales spinning to 1334kg.So how come the new Lotus Elise is so clean?The aerodynamics are 4% smoother, according to Lotus, while a smaller Toyota 1.6-litre VVT-i engine is downsized by 200cc compared with the outgoing 1.8, yet produces the same power.The new 2011 model year (but on sale now in 2010) shows the benefits of lightweight: it'll hit 60mph in 6.0sec.

UK Government cuts car aid, EV grants at risk

By Tim Pollard Motor Industry 30 June 2010 15:48 Britain's business secretary Vince Cable today fired a warning shot across the bows of the car industry, saying that subsidies would end and warning that the pledged £5000 subsidy off the first electric cars was in peril.'Our starting point is very clear,' he told delegates at an automotive summit arranged by the Society of Motor Manufacturers and Traders. 'We've moved on from the era of subsidies. We just have to be realistic about what's affordable.'Cable said the new coalition Conservative-Liberal Government had not yet decided whether or how to implement the new low-carbon vehicle subsidies promised under Labour, which had set aside £250m in initial funding.'It is still actively under consideration,' said Cable.