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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.
2011 Mercedes C Class Facelift revealed +video
Thu, 23 Dec 2010The 2011-2012 Mercedes C Class When we recently reviewed the Mercedes C Class – in relatively lowly C180 CGI guise – we had to conclude that Mercedes’ baby has come a long way. For the first time it really can be judged as small S Class and as a worthy competitor to the BMW 3 Series. Which means the 2011 Mercedes C Class facelift can only add more appeal to a car that is very close to being the most desirable in its sector.
Ford Escape (2011) - first pictures of the new Kuga
Wed, 16 Nov 2011Ford is bringing its One Ford mantra to bear in the SUV sector for the first time - so this new Escape will in turn mutate into the next Ford Kuga for Europe. We're expecting the new Kuga in late 2012, with UK sales slated for spring 2013. Ford Escape: a mix of Vertrek and Kuga The new Escape 4x4 has heavy overtones of the Vertrek concept car, yet Europeans will be familiar with the Kuga motifs at play.