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Koenigsegg signs deal to buy all of Saab

By Tim Pollard Motor Industry 18 August 2009 10:17 Supercar maker and industrial group Koenigsegg today announced it had signed the deal to buy every one of GM's shares in Saab. The news clears the way for Saab's rebirth as an independent car maker freed from the shackles of General Motors and follows an earlier memorandum of understanding. Koenigsegg has signed the stock purchase agreement to buy 100% of Saab – but there are still numerous hurdles before the deal completes 'in the next few months.' Exactly.

Mercedes S65 AMG (2013) first official pictures

By Ollie Kew First Official Pictures 08 November 2013 08:01 Bring on the ‘too much is never enough’ comments: this is the new Mercedes S65 AMG – the top dog of the S-class range. Set to be more than twice as expensive as an entry-level S350 BlueTec, which starts at £62k, the S65 AMG borrows its powerplant from the SL65 AMG, and comes close to embarrassing the SLS supercar in a drag race. Whereas the new S63 makes do with a piffling 5.5-litre biturbo V8 developing 577bhp, the S65 squeezes in a twin-blown V12 good for 621bhp – that’s only one horse fewer than the Mercedes SLS Black Series manages.

GM to build Cadillac ELR in Detroit

General Motors confirmed Tuesday that it will build the Cadillac ELR extended-range plug-in hybrid at the same plant that builds the Chevrolet Volt and Opel Ampera hybrids. GM said it will spend $35 million on the Detroit-Hamtramck Assembly plant to add the Cadillac. GM North America president Mark Reuss said production of the ELR is set to begin in late 2013.