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Fisker goes to China's Wanxiang

China's Wanxiang Group won an auction for Fisker Automotive Holdings Inc., the maker of luxury plug-in hybrid cars, with a $149.2 million bid, almost six times what Fisker was seeking when it filed for bankruptcy. Wanxiang topped Hybrid Tech Holdings during the auction, which began on Wednesday and went through 19 rounds of bidding, with an offer that includes $126.2 million in cash and $8 million in assumed liabilities, Fisker said Friday in a statement. U.S.

Mitsubishi Concept-RA (2008): first official pictures

By Tim Pollard First Official Pictures 14 January 2008 00:59 Mitsubishi picked an elegant way to signal its intention to sell more diesel models in the US; its Concept-RA unveiled today in Detroit is a slinky two-seater coupe that's more likely to turn heads for its sharp looks than its 2.2-litre turbodiesel. It also points to the new Eclipse, which could come to Europe next time round. The sports car is one of the best-looking concepts shown by Mitsubishi for ages, its bright red paintwork contrasted by matt black finish on certain functional body parts, including the top of the engine which actually forms part of the bonnet.

Saab targets customers' hearts, brains and wallets in North America

Saab executives said they're optimistic the struggling brand will be able to attract customers despite production stoppages at the company's Trollhaettan, Sweden, plant and cash flow problems. The Swedish automaker aims to target consumers and instill confidence with a grass-roots marketing campaign that focuses on the "heart, brain and wallet," Saab Cars North America President Tim Colbeck told reporters at Saab's North American headquarters in suburban Detroit on Thursday. Colbeck said the company must move away from selling vehicles based on price and focus more on making customers enthusiastic about driving Saab's vehicles.