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Chinese bank may join Saab rescue deal

Saab's owner, Swedish Automobile, said on Monday it is discussions with a bank in China and Chinese automaker Zhejiang Youngman Lotus Automobile over a rescue deal for Saab. Reports had said on Sunday that the Bank of China would replace China's Pang Da as an investor in Saab, which is under bankruptcy protection. Swedish Automobile confirmed Monday that it is talking with Youngman and a bank in China about an equity interest, but did not name the bank.

Fisker, Energy Department face tough Congressional hearing on federal loans

Struggling Fisker Automotive took a bludgeoning Wednesday on Capitol Hill from top congressional Republicans who compared Fisker to failed automotive startups of the past and lambasted the Department of Energy for allowing the electric-car producer to draw down nearly $200 million in taxpayer-funded loans. House Oversight Chairman Darrell Issa, R-Calif., told Fisker founder Henrik Fisker that he will be remembered fondly for his design work for BMW and Aston Martin. But he compared Fisker to Malcolm Bricklin, John DeLorean and Preston Tucker -- three entrepreneurs known for their failed startup car companies.

Kia Naimo EV Concept revealed

The Kia Naimo EV gets revealed in Seoul This week sees the start of the Seoul Motor Show. Which may not be at the top of our list of must-see shows, but with Kia and Hyundai taking over the world we do need to at least sit up and take notice. Today is press day at Seoul and Kia has rocked up with a funky electric CUV (Crossover Utility Vehicle) – the Kia Naimo – powered by a pair of 27kWh lithium-ion polymer batteries in the boot which power an electric motor that’s good for 108bhp and 207lb/ft of torque.