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Saab says it will restart production after securing short-term loan
Mon, 02 May 2011Saab 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.
Porsche 918 Spyder gets its own website
Wed, 26 Jun 2013The Porsche 918 Spyder (pictured) now has its very own website It’s more than two years since the Porsche 918 Spider went on sale, but it’s now getting close to arriving in Porsche showrooms so Porsche has created a new microsite dedicated to all things 918. Since it went on sale, the 918 Spyder has been developed further and the production 918 will come with 4WD courtesy of its electric motors – one delivering 154hp (rear) and the other 127hp (front) – which, combined with 608hp from its 4.6 litre V8, promises 0-62mph in 2.8 seconds (and 7 seconds on just the electric motors) and on to 211mph. The new 91 microsite reveals Porsche’s self-imposed challenge was to beat the Carrera GT by at least 10 seconds on the Nurburgring, and there’s video of the 918 out playing at the Nurburgring, as well as plenty of photos and detail on exactly what the 918 offers.
Volvo testing new safety features
Tue, 10 Jul 2012Volvo outlined three new technologies that it says will help make the Volvos of the future a good deal safer: autonomous driving, “Intersection Support” and animal detection. Volvo says it's tailoring technologies to the way people drive, by which it means poorly. The company claims that “surveys from three different research institutes in the United States reveal that modern drivers spend 25 to 30 percent of their time behind the wheel doing other things, such as focusing on mobile communication.” Volvo's new technologies are said take this into account and “provide the driver with the right support at all times.” By using a camera and radar, future Volvos will be able to follow the car in front while driving in slow traffic using an autonomous-driving function.