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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Lexus LF-NX concept

Lexus' LF-NX mid-size crossover concept, which debuts next week in Frankfurt, explores the possibility of a future model in the carmaker's range that would take on the Range Rover Evoque and Audi Q3. The concept previews another evolution of the ‘L-finesse' design language and features angular design and a front that's dominated by the huge spindle grille as well as Lexus' signature front light arrangement. Like the Lexus IS, the arrow-shaped DRLs are separated from the headlamps, while the front corners separate the bumper from the front wings with a sharp vertical line.

Subaru BRZ STi (2013) range-topping BRZ on the way

Subaru has revealed teasing shots of the new BRZ STi. Almost two years after Subaru previewed the BRZ via the Concept STi (pictured, right), these new shots confirm a production version is on the way – though it’s unclear if it’ll be tuned-up performance version, or merely a fettled and bodykitted refresh. Subaru BRZ STi: finally over the 200bhp mark?