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Porsche and Mercedes-Benz proposals for China Family Car Project explored

Today's Chinese car industry is barely recognizable from that of 20 years ago, and the country is now the biggest market in the world. But in 1994, when the industry was still in its relative infancy, the Chinese government launched the 'China Family Car Project', inviting 20 major Western carmakers to develop proposals for a five-seat, cheap and environmentally-friendly family car for the Chinese market. The chosen proposal would be made in China under a joint venture with First Auto Works (FAW).

Aston Martin DB9 Facelift spied

The 2011 Aston Martin DB9 Facelift There’s a fair bit going on at Aston Martin at the moment, a big change from just a year ago when the recession was causing huge pain. We’ve had the launch of the car the V8 Vantage always threatened to be with the initially limited edition Aston Martin V12 Vantage, and the news that the V12 Vantage is US bound and no longer a limited edition. The big news for AM this year has been the launch (finally) of the most beautiful 4 door car in the world – the Aston Martin Rapide – which frankly could handle like a dog and take 20 seconds to get to 60 mph and we’d still want one, so achingly gorgeous is it by any measure of saloon car gorgeousness.

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.