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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED
Mon, 31 Oct 2011Saab: 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.
Cars Cause Global Warming – is the myth about to be debunked?
Wed, 01 Jul 2009Is the global warming myth about to be debunked? Our views are well known on the whole climate change and ‘Cars kill the Planet’ ethos that has become received wisdom in the last decade. It isn’t a popular view and, in the eyes of many, is akin to being a holocaust denier.
Jaguar XF 2.2D Review
Mon, 27 Feb 2012The Jaguar XF now comes with the 2.2 Diesel engine We’ve had the Jaguar XF 2.2 Diesel Premium Luxury in for a week for review and road test. How does the 2012 XF fare with the entry-level 2.2 litre diesel engine? We’ll hold up our hands and state at the off that the Jaguar XF is one of our favourite cars.