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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.

Jeep introduces Polar Edition Wrangler for Frankfurt show

Jeep Wrangler special editions are revealed like clockwork, if there hasn't been a new one in an hour, just wait a little bit longer. For the Frankfurt motor show next week, the company is bringing the Wrangler Polar Edition. This special edition features 18-inch gloss black rims, a body-color hardtop and a selection of Mopar accessories.

Best of the Best for 2012: Audi A7 and Land Rover Range Rover Evoque

Each year, hundreds of new cars and trucks pass through the Autoweek garage for evaluation by our editors. We bring our enthusiast eye to what we'll admit is a relatively enjoyable task of sorting through all of those test cars, looking for those few stellar models that deserve additional consideration for our top honors. For the second consecutive year, we've applied all of that accumulated knowledge and seat time to pick Autoweek's Best of the Best/Car and Best of the Best/Truck for 2012.