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Saab secures more funds as it seeks to avert collapse
Mon, 27 Jun 2011Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'. Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.
Jody Scheckter turns farmer
Tue, 26 Aug 2008Jody Scheckter Mercedes-Benz By Ben Whitworth Motor Industry 26 August 2008 10:11 Ever wondered what happens to F1 world champions when they hang up their race suits? Jody Scheckter – the last man to give Ferrari a world championship in 1979 before Michael Schumacher stepped in – has traded in the glamour of the pit lane for farming. The owner of the award-winning Laverstoke Park farm and acclaimed organic expert, South Africa-born Scheckter has sealed a deal with Mercedes-Benz World to supply the experience centre’s Gullwing Restaurant with organic food from his Hampshire farm.
Henrik Fisker wants to buy back Fisker
Mon, 27 May 2013The resignation of Henrik Fisker in March from the eponymous company he worked so hard to build in to a credible ‘Green’ car company precipitated the meltdown of Fisker, which now stands on the edge of bankruptcy over $171 million owed to the US government. But Henrik Fisker has a plan. He’s teamed up with Hong Kong billionaire Richard Li – a Fisker investor – to try and buy the US government debt and save Fisker from being crushed by bankruptcy.