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U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.

Jaguar XKR GT3 (2007): first news and photos

By Tim Pollard First Official Pictures 12 January 2007 10:26 Jaguar XKR GT3: the lowdown The Jaguar XK coupe has been sent on a course of steroids for its race-car transformation. The XKR GT3 was unveiled at the Autosport International Show and will compete in this season's FIA GT3 European Championship. It keeps the 4.2-litre supercharged V8 of the Jaguar XKR road car, but has been tuned to produce at least 475bhp in race trim.

Former GM exec Joel Ewanick joins Fisker

Fisker Automotive has hired ousted General Motors' global marketing boss Joel Ewanick to be interim chief of global sales and marketing for the maker of luxury plug-in hybrids. Ewanick, 52, will replace industry veteran Richard Beattie, 58, who announced his retirement Monday, Fisker spokesman Roger Ormisher said. Ewanick has been working with Fisker as a marketing consultant for at least six weeks and will fill Beattie's role until a full-time replacement is named, Ormisher said.