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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.
Porsche 918 Spyder gets Martini Racing livery
Tue, 31 Jul 2012The Porsche 918 Spyder hybrid supercar has been revealed in traditional Martini Racing livery, an option available to buyers. The Porsche 918 Spyder has been cropping up lately with a black and white version of the iconic Martini Racing livery as 918 Spyder Prototypes strut their stuff on Europe’s roads. But now Porsche has gone the whole hog and struck a deal with Martini to revive the Martini Racing livery used by Porsche in the 1970s for its new hybrid supercar, and buyers of the 918 Spyder will be able to option their new car up with Martini logos.
Bertone Jet 2+2 Aston Martin Rapide
Mon, 25 Feb 2013Images and details of the Bertone Jet 2+2 Aston Martin Rapide have been revealed in anticipation of its Geneva debut. Celebrating 60 years of collaboration with Aston Martin – which is also celebrating its centenary – the one-off wagon was commissioned by an unnamed Aston collector. The last Bertone Aston was the Vanquish-based Jet 2 shooting break from 2004.