Ford Mercury Wheel Center Cap 9l2z-1130a on 2040-parts.com

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: 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.

Audi R8 spyder appears headed for Frankfurt show

The much-anticipated Audi R8 spyder likely will make its world debut in production guise at the Frankfurt motor show in September. The drop-top version of the head-turning German supercar would share mechanicals with the coupe, which offers a V8 making 420 hp and a V10 with 525 hp. The R8 has a mid-engine layout and channels power to the ground with all-wheel drive.

Autoweek in review: This week's highlights

Here's a rundown of what you might have missed at Autoweek.com the past few days: --Automakers brought goodies galore to the SEMA show floor in Las Vegas. Check out all our coverage at the Autoweek SEMA show page. --After negative reception of the redesigned 2012 Honda Civic launched last spring, Honda is saying the next refresh for the Civic could be as soon as 2013, which is about a year ahead of schedule.