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News watch November 2011: today's auto industry news
Tue, 29 Nov 2011Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Tuesday 29 November 2011• Saab's UK division today filed for administration as it waits for funding from its would-be Chinese investors (Automotive News Europe) • In a statement, Saab GB said: 'Saab Great Britain Ltd filed for administration with the High Court in London... The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until the required funding for the company has been secured'• Frantic negotiations continue between Saab owner Swedish Automobile and its Chinese suitors, Youngman and Pang Da, which signed an MOU to buy Saab for €100 million.
G-Wiz maker Reva announce new electric cars
Tue, 08 Sep 2009The Reva NXR - one of two new electric cars Reva re bringing to Frankfurt Reva plan on introducing two new cars at the Frankfurt Motor Show next month. The first is the Reva NXR, which is a three-door, four seat family hatchback scheduled to launch in 2010. The second is a sporty, targa-topped two-seater – the Reva NXG – that won’t go in to production until 2011.
Saab is sold again: two Chinese makers buy Saab
Fri, 28 Oct 2011Chinese car makers Pang Da and Youngman today agreed to buy Saab in its entirety from Swedish Automobile. It's the latest extraordinary twist in the saga of Saab, which has been technically bankrupt since September 2011 and built just 11,000 cars this year. The deal, which will see the Chinese car makers pay €100 million for Saab, has not yet however been signed and sealed.