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Saab gets approval for voluntary reorganization on appeal
Wed, 21 Sep 2011...and Victor Muller smiles Victor Muller never says die, and the news that Saab has, after all, been granted the right to court protection from its creditors for a period of reorganisation has vindicated his stubborn refusal to give up on Saab. The Court of Appeal in Gothenburg has this morning overturned an earlier judgement by the District Court in Vänersborg which rejected Saab’s application to get the court’s protection during a period of ‘reorganisation’, which you can read as ‘Waiting for the dosh to arrive from China’. The news last week that Rachel Pang – a director of Pang Da, one of Saab’s putative investors – has come out in a very bullish way about the prospects for the investment by Pang Da and Youngman getting the final rubber stamp from China’s NDRC in Beijing won’t have harmed Saab’s case one bit.
Hyundai Curb concept car (2011) at Detroit auto show
Mon, 10 Jan 2011It wasn't just about the Veloster hogging the limelight on Hyundai's stand at the 2011 Detroit auto show. The Curb concept car is a glimpse of a future rival to the Nissan Juke, and the Koreans even admitted it was a hint 'for the next generation of Hyundai buyers.' The new Curb is defiantly a concept car, but it also showcases Hyundai's Blue Link connectivity technology. Hyundai's Curb is the twelfth concept car to be designed at the company's Californian Design Center.
2010 Audi Hybrid Q5 coming to the U.S.
Sun, 11 Jan 2009Audi will offer a hybrid version of its Q5 crossover in the United States starting in late 2010, says Wolfgang Hatz, head of powertrain development for the Volkswagen group. In an interview Sunday at the Detroit Auto Show , Hatz said Audi must offer a hybrid model to compete with rival vehicles that already offer the technology, such as the Lexus RX 400H. The BMW X6 will be offered as a hybrid late this year, and Mercedes plans to roll out a hybrid in each of its major models starting with the S400 hybrid this year.