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Saab finds a buyer

Bankrupt automaker Saab has found a buyer. But instead of picking up where the Swedish firm left off, the buyer plans to use Saab's resources for the production of electric cars. The new owners of Saab, a Chinese-Swedish investment group with Japanese backing called National Electric Vehicle Sweden AB (NEVS), did not release details on how much it paid for Saab or how much it planned to invest in the company.

Jaguar supercars

By Tim Pollard 29 July 2008 09:00 Luxury saloon specialist Jaguar has one genuine supercar contender under its belt, CAR would postulate. The XJ220 was born at the height of the supercar boom – but suffered the market collapse, and never really received the recognition it deserves. An interesting curio, nevertheless Make and model Year Price Engine 0-60mph Top speed  1992 £415,000   3498cc V6, 542bhp, 475lb ft  3.9sec  217mph For   Held the production-car speed record for a couple of years  at 217mph Against   Like the Diablo, never gained much credibility.

GM to cut 14% of global salaried workforce this year

General Motors, facing a Feb. 17 deadline to show the government it's a viable company, said on Tuesday it will cut 14 percent of its salaried jobs globally by the end of the year and slash the salaries of many who remain. Salaried employment will drop to 63,000, from 73,000, the company said in a statement.