General Motors Cadillac Trunk Panel [1115300] on 2040-parts.com

Saab says it will restart production after securing short-term loan

Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.

New MINI JCW GP laps Nurburgring in 8:23 (video)

We have video of the fastest MINI ever – the MINI John Cooper Works GP II – lapping the Nurburgring in 8:23. We revealed back in April that a new version of the MINI JCW GP was on the way, and MINI got round to confirming that in May when the new MINI John Cooper Works GP was officially revealed. At the time, MINI told us that the new MINI GP could hustle round the Nurburgring a full 19 seconds quicker than the old MINI GP making the new hot MINI the fastest MINI ever made (well, the fastest MINI ever made by BMW, anyway).

Who's Where: Gert Hildebrand appointed Head of Design at Qoros Auto

Gert Hildebrand, former General Manager of Mini Design, was appointed Head of Design at Qoros Auto in January this year. In his new role, Hildebrand is responsible for overseeing a regeneration of the existing design and styling processes at the joint venture company, a collaboration between Qoros and Israel Corporation, which was founded in 2007. One of many high level designers making the transition to China, Hildebrand is is currently tasked with leading the creation of the new Qoros brand, which was unveiled at a presentation in Shanghai last week.