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Saab turns down takeover offer from Chinese investors

Swedish Automobile, owner of Saab, has turned down a takeover offer from China's Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. Youngman and Pa Dang signed a nonbinding memorandum in July to take a combined 53.9 percent stake in Swedish Automobile for about $338 million.

Investor group wants to buy Saturn, sell overseas brands

An investor group called Telesto Ventures says it wants to acquire Saturn's retail operations and provide dealers with vehicles from General Motors through 2011 and mostly overseas manufacturers thereafter. A GM spokesman said today the group's proposal is legitimate and "very interesting." "I can tell you this is one of the interested parties with Saturn, and we have been working with them throughout this process," said spokesman Steve Janisse. "There are other interested parties as well who we're working with.

2014 Ford Mondeo testing autonomous driving technologies (video)

The Ford Fusion with its LIDAR ears allowing autonomous driving Car makers are starting to take self-driving, autonomous cars very seriously, and we’ve recently seen Mercedes testing their autonomous driving S-Class in Berlin, Volvo planning a big trial of 100 self-driving cars in Gothenberg and Tesla planning systems that will do 90 per cent of your driving within 3 years. Now it’s Ford’s turn. Ford has equipped a Fusion Hybrid (that’s the North American version of the new Ford Mondeo we still haven’t got in the UK) with its autonomous vehicle technology to conduct research in partnership with the University of Michigan and State Farm (a big group of insurance companies in the US). The test Fusion gets a system called LIDAR (light detection and range – the funny looking ears on the top of the Fusion in the picture above) which can scan the road ahead up to 2.5 million times a second and create a 3D map of the surroundings.