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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Pothole disaster imminent, say campaigners

THE UK’S recent tempestuous weather is set to create the worst pothole catastrophe the country has ever seen, according to campaigners. Freezing conditions are being forecast for the end of January, and road condition campaign website potholes.co.uk is predicting a ‘perfect storm’ of potholes if the forecasts prove correct. With the Met Office confirming that southern England received double the average amount of rainfall during December, persistent heavy rain and floods have created the basis for a disastrous season of crumbling roads.

New Mazda2 Colour Edition and Sport Colour Edition Limited Editions launch

New Mazda2 Sport Colour Edition (pictured) now on sale Another day, another special edition, this time from Mazda with a pair of Mazda2 limited edition – the New Mazda2 Colour Edition and Sport Colour Edition. Based on the Mazda2 SE AirCon 1.3 litre 75PS, the Colour Edition sports 11 additional bits of kit including Privacy glass, a pair of black door mirrors, 15″ dark grey alloys and a rear spoiler, with the interior getting treated to red piping for the black seat trim, leather steering wheel with gloss dark grey inserts, Bluetooth and body colour for the door trim and air vents. The Sport Colour Edition gets the more powerful 85PS version of the 1.3 litre and comes with 16″ dark grey alloys, Fogs, Sports headlamps, Sports styling kit with interior extras including a 6.1″ screen with SatNav and Bluetooth, trip computer, extra speakers, extra airbags, electric rear windows and a speed alarm.