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Koenigsegg signs deal to buy all of Saab

By Tim Pollard Motor Industry 18 August 2009 10:17 Supercar maker and industrial group Koenigsegg today announced it had signed the deal to buy every one of GM's shares in Saab. The news clears the way for Saab's rebirth as an independent car maker freed from the shackles of General Motors and follows an earlier memorandum of understanding. Koenigsegg has signed the stock purchase agreement to buy 100% of Saab – but there are still numerous hurdles before the deal completes 'in the next few months.' Exactly.

Schreyer: Cross GT is a sign of things to come

Peter Schreyer, Kia's president and global design boss, makes no bones about it--the Cross GT is a harbinger of future style for the Korean company's large crossovers. "You'll certainly see things showing up," he told me at the Chicago auto show, where the concept was revealed. It's a large ute, measuring 192.8 inches, which is 8.4 inches longer than the Sorento.

Disney and Pixar announce 'Cars 3'

Variety is reporting that Pixar will introduce a third chapter to the "Cars" franchise, the company's second trilogy behind "Toy Story." It will join a long-awaited sequel to "The Incredibles," written by Brad Bird, a sequel to "Finding Nemo," and a sequel to "Planes" called "Planes: Fire and Rescue." That one will come out this year, on July 18. The first "Cars" was something magical, a love letter from car guy John Lasseter to the insular world of car enthusiasts. The second "Cars" sold over $2 billion in merchandise and was a massive commercial success.