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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.
Volkswagen debuts Jetta TDI Value Edition
Thu, 09 Jan 2014There was already a lot to like about the diesel Volkswagen Jetta TDI CleanDiesel, most of it having to do with fewer fillups, and so for 2014 Volkswagen is debuting a new Jetta TDI Value Edition that slices more than $2,000 off the price of entry. And speaking of the price of entry, it is now $22,115 for Volkswagen's smallest diesel sedan in the U.S. Yes, it seems Volkswagen has finally created a car for automotive journalists as well as members of the biodiesel-brewing crowd who are tired of fixing old Mercedes-Benz W123 station wagons from the 1970s, though we probably have the diesel Chevrolet Cruze to thank for the appearance of this particular model.
BMW i3 Coupe concept
Tue, 27 Nov 2012It may be dubbed a concept but this BMW i3 Coupe is ostensibly the debut of the production version of the innovative new B-segement EV at the LA auto show. The Coupe is a new variation on the now-familiar i3 although in reality it's more three-door than true coupé. At 3,964mm, 1,768mm wide and 1,555mm high, the Coupe is lower than the five-door i3, while its front and rear screens have faster rakes.