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Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.
Porsche Cayman Black Edition revealed
Fri, 06 May 2011Porsche has revealed its latest limited-run sports car: the Cayman S Black Edition. Created as a send-off for the current Cayman lineup, which is set to be replaced within the next 12 months, the coupe is planned to go on sale in July with a more powerful engine, a larger wheel-and-tire package and greater standard-equipment levels than those of the existing Cayman S. Taking a page from Henry Ford, the Cayman S Black Edition is available in any color you like--as long as it's black Inside, the Porsche gets black trims, black sport seats, a sport steering wheel, darkened instrument graphics, stainless-steel scuff plates with “Black Edition” inscriptions and a commemorative badge identifying it as one of a limited build of 500 units.
Smart designs eBike
Tue, 23 Aug 2011Smart has joined its fellow car manufacturers in designing a bicycle and is putting it into series production. The main components of the eBike such as the frame, battery housing, handlebars, lights and mudguards have been designed and developed specifically for Smart. The two-color concept is, so it's makers claim, recognizable as classic Smart, with the plastic battery housing forming a contrast to the aluminum frame.