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Saab reportedly bought by Chinese-led consortium

A Chinese-controlled consortium has completed a deal to buy the assets of bankrupt Swedish carmaker Saab, media reports said. National Electric Vehicle Sweden (NEVS) will pay 1.5 billion to 1.8 billion kronor ($210 million to $250 million) for Saab, excluding spare parts company Saab Automobile Parts AB, according to reports in Sweden. NEVS did not confirm the reports.

Laurenz Schaffer Appointed President of BMW Group’s DesignworksUSA

There's a game of musical chairs being played at DesignworksUSA, the BMW Group's design consultancy subsidiary. Starting December 1 this year, two key executives will be taking on new roles within the design consultancy, while the company's current President will be moving on to a new position within BMW Group Design. The first appointment is that of Laurenz Schaffer, currently Director of the Munich studio of BMW Group DesignworksUSA.

Ferrari F70 (new Enzo) 2012 debut confirmed

Ferrari F70 - the new Enzo - 2012 debut Ferrari boss Luca di Montezemolo has confirmed the arrival of the new hybrid Enzo – the Ferrari F70 – before the end of 2012. Back in February we were able to report on what we can almost certainly expect from the new Ferrari Enzo (which will probably go back to the F40/F50 model designation as the F70), perhaps most importantly that it will have a hybrid powertrain and be revealed this year. That has now been confirmed by Ferrari boss Luca di Montezemolo as he reported on Ferrari’s sales performance.