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Saab gets latest lifeline via $5 million infusion from Chinese company
Tue, 13 Dec 2011Saab has been on the edge of collapse since a cash shortage early this year forced it to halt production. Now Automotive News reports that a last-minute payment from China's Zhejiang Youngman Lotus Automobile has given the Swedish carmaker yet another shot. Youngman wants to get a stake in Saab and has taken the first step by giving the company $5 million to cover tax expenses, with another $26.43 million forthcoming for unpaid salaries and $13.18 million more before the end of December.
Design Review: Bertone Birusa concept
Tue, 04 Mar 2003The new Birusa concept unveiled today shows Bertone returning to what they do best - a flamboyant showcar giving us a vision of how the high performance GT car (front engine, rear drive, two seats) could evolve stylistically in the near future. Based on a BMW Z8 aluminium chassis lengthened by 300mm, it's a refreshing piece of exuberance by the Italian company and a celebration of what they achieved in the 1960s and 70s. The wedge-shaped profile is characterised by a classic Bertone device - a dihedral-shaped side window with an undercut lower glass section, as featured on showcars such as the Boomerang and Carrabo.
BMW's yearlong Mini E trial exposes infrastructure problems
Mon, 21 Sep 2009Early next decade, BMW of North America plans to sell an electric "megacity car" as a subbrand of BMW, similar to the brand's M high-performance cars. But further details are skimpy. BMW already is preparing for that launch.