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GM to shut down Saab

General Motors will shut down Saab after the automaker wasn't able to conclude a deal to sell the brand to Spyker Cars, GM said on Friday. “Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time," GM Europe president Nick Reilly said in a statement. "In order to maintain operations, Saab needed a quick resolution.

BMW hires former General Motors EV expert Weber, sources say

BMW AG has hired former Opel product chief Frank Weber, sources at both companies told Automotive News Europe. It's a move that gives the world's leading luxury carmaker a huge boost in electric vehicle expertise as Weber was the lead engineer for the Chevrolet Volt plug-in hybrid. BMW plans to launch its i3 full-electric car and its i8 plug-in hybrid in 2013.

Noble saved by cash injection

By Ben Oliver Motor Industry 18 September 2006 09:30 British supercar maker Noble Cars has fought back from the brink, thanks to a cash injection from a new mystery backer. In an exclusive interview with CAR Online, boss Lee Noble vowed that the M15 – Noble's Ferrari fighter – would go on sale in early 2007. 'I have successfully teamed up with a dedicated owner who shares my commitment, passion and vision for the future of Noble cars,' said Noble.