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Chinese bank may join Saab rescue deal

Saab's owner, Swedish Automobile, said on Monday it is discussions with a bank in China and Chinese automaker Zhejiang Youngman Lotus Automobile over a rescue deal for Saab. Reports had said on Sunday that the Bank of China would replace China's Pang Da as an investor in Saab, which is under bankruptcy protection. Swedish Automobile confirmed Monday that it is talking with Youngman and a bank in China about an equity interest, but did not name the bank.

Ultra-rare Steyr Puch 500 goes to auction

£18,000 might seem like a lot of money for a car based on the original Fiat 500, but this particular Steyr Puch example is one of just 33 ever built. Austrian firm Steyr Puch entered into an agreement with Fiat in 1954 after production was halted during World War II, and began production of the 500 under licence. Only 33 right-hand drive examples were ever produced, and of those only two survive; this example and one in the Steyr Puch museum in Austria.

Preview: Goodwood Festival of Speed 2009 – True Grit

By Ben Whitworth Motor Shows 20 March 2009 16:11 The 2009 Festival of Speed – held this year over the weekend of 3-5 July – will honour motorsport’s endurance heroes with a celebration of Le Mans’ 60th anniversary. ‘The Festival will pay tribute to the men who fought against the odds on the track and won,’ Lord March told CAR Online. ‘With drivers like Jochen Mass, Jacky Ickx, Jackie Stewart and Sterling Moss joining us – drivers that went the extra mile in the pursuit of victory – I’m really looking forward to seeing some of the great endurance drivers, riders and machines in action.’ The Festival will also take in a number of other important anniversaries – both Audi and Morgan will be celebrating their centenaries, the Mini will turn 50, and it will mark 40 years of Frank Williams’ involvement in Formula 1.