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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.
Track and Field: Today's track day cars offer more for less
Fri, 13 Apr 2012The imminent arrival of the Scion FR-S and the Subaru BRZ have many enthusiasts thinking about the track-day-filled summer ahead. Since both of these rear-wheel-drive coupes will be available in limited numbers, we're going to explore some other options for track-day cars that could be as fun as the new sheetmetal from Japan. We'll start with the less expensive stuff and work our way up, without crossing the $50,000 threshold.
BMW, Toyota to jointly develop a sports car
Fri, 29 Jun 2012BMW and Toyota Motor Corp. on Friday said they will develop a sports car together and cooperate in fuel cell technology, powertrain electrification and lightweight technologies. BMW CEO Norbert Reithofer and Toyota President Akio Toyoda signed an initial agreement at BMW's Munich headquarters to expand long-term strategic collaboration between the two automakers.