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Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.
Volvo announces 2014 XC90’s world-first safety tech
Fri, 05 Jul 2013The next Volvo XC90 SUV will arrive in 2014 with loaded with world-first safety technology to take on the Audi Q7 and Land Rover Discovery. The safety arsenal will include after-dark pedestrian detection, road barrier detection, as well as fully autonomous cruise control and parking capability. It’s the latest salvo from Volvo’s crack team of safety-obsessed engineers in the fight to realise the company’s ‘Vision 2020’ target – that no occupant of a new Volvo will be killed or seriously injured in an accident by 2020.
Peugeot 208 T16 Pikes Peak – Sebastian Loeb is impressed (video)
Sat, 11 May 2013The Pikes Peak hillclimb is an awesome event with more than 150 turns on a course more than 12 miles long running up in to the clouds at the summit of Pikes Peak Mountain. This year Peugeot are back to take on Pikes Peak in a car they like to describe as a Peugeot 208, but apart from the name it has nothing much more than a passing resemblance to Peugeot’s latest hatchback. For a start, it has a 3.2 litre twin-turbo V6 that delivers an incredible 875bhp which is enough to get to 62mph in a neck snapping 1.8 seconds and 150mph in an equally unbelievable 7 seconds.