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Pininfarina family to lose control of company

The Pininfarina family is set to lose its controlling share stake in the company as it takes a step closer to restructuring its €76 million net debt. The Italian design firm, founded in 1930, has been plagued with debt in recent years, shutting its manufacturing branch in 2011 to concentrate purely on design, ending a joint venture with Volvo that saw the company assemble Volvo's C70. The move is seen as a positive one for the company in the long-term, making it more financially secure for future developments, but it also means that the Pininfarina family will lose control of the company by selling its 77 percent share.

BMW to supply engines to Saab, reports say

Saab and BMW AG have agreed on a deal that allows the Swedish carmaker to use engines made by BMW, according to a person with direct knowledge of the matter. Saab will initially purchase BMW engines for the 9-3 model that is scheduled for release in late 2012, said the person, who asked not to be identified before a contract is signed. The carmakers plan to sign and announce the pact in Trollhattan, Sweden, on Wednesday, the person said.

2011 Saturn Vue: GM confirms plug-in crossover is on track

A plug-in electric powertrain once destined for a Saturn crossover will live on at General Motors and will arrive in 2011 in another vehicle. GM vice chairman and product chief Tom Stephens confirmed to wire service Reuters that the project remains on track. The automaker was scheduled to bring a plug-in version of the Saturn Vue to market in 2011.