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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.

Dutch factory announced for new Mini

THE NEW Mini is to be built in Holland as well as the UK, owner BMW has announced. The German motor giant said production of the Mini Hatch will be split between its factory in Oxford and a site in Nedcar in Born. Around 1,500 workers will build the new Mini in Holland from this summer at a factory run by BMW's Dutch partner VDL Nedcar.

Volkswagen Polo 3dr (2009): first official pictures

By Tim Swietochowski First Official Pictures 26 August 2009 08:00 Volkswagen has unveiled the new three-door Polo, which will go on sale in January 2010 with prices ranging from around £9200 to £14,000. The new supermini will be built in Volkswagen’s Pamplona factory in Spain, and shares its platform with the five-door Polo.  Fitted as standard will be four airbags, ABS, ESP, hydraulic brake assist, a CD player, speed sensitive power steering and electric windows. Gone are the days of stripped-out superminis...