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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Mazda refines lineup with SkyActiv technology

It turns out Mazda isn't simply shooting for the sky. Rather, the protagonists of Zoom-Zoom driving dynamics are taking an active approach to the brand's DNA: Put it all together: it's called “SkyActiv,” and Mazda is billing the suite of technologies as the pillars of its way forward. Much of these features--which enhance future products in nearly all areas, including engine, transmission and chassis--have already been revealed.

Saab: 'we will sell new 9-3 architecture to others'

Saab won’t only buy in technology from other manufacturers, but will sell its own Phoenix platform (which will underpin the next 9-3) to car companies as well. That’s the message from Saab CEO Jan Ake Jonsson and Spyker CEO Victor Muller. CAR has just sat down with the pair at the LA auto show, so read on for more.