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Koenigsegg backs out of deal to buy Saab

Swedish exotic-car maker Koenigsegg Group has canceled plans to buy Saab from General Motors. GM announced that the deal was off on Tuesday and gave no reason why the deal fell apart, nor did the automaker say what would happen to Saab. In a statement, GM CEO Fritz Henderson said: "We're obviously very disappointed with the decision to pull out of the Saab purchase.

Toyota's quake-hit Yaris plant offline for at least another month

Toyota's quake-hammered Miyagi assembly plant, which makes the Yaris small car for export to the United States, is expected to be offline for at least another month. Workers have completed repairs at the factory and restored electricity, but the facility cannot get supplies of natural gas, a person familiar with the situation said. The assessment underscores the long road facing Toyota and other Japanese automakers in bringing plants back into full operation following the deadly quake, which killed more than 11,000 people, ruptured gas lines, shutdown electric grids and snarled logistics across half the country.

GM's next eco-concept car

By Ben Oliver Motor Industry 03 July 2007 06:17 General Motors will unveil a European concept car built on its radical new E-Flex platform at September’s Frankfurt Motor Show. The concept will feature radical styling, with a diesel engine acting as a generator for the concept’s electric motor. And General Motors is believed to be collaborating with urban electric scooter manufacturer Segway; the unnamed concept may be able to carry one or more of the £4000, gyroscope-controlled devices for use in town once you’ve parked.