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U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.

Designed in Italy, Engineered in China

"The soul of our designing is in Italy," said Silvio Petro Angori, CEO of Italian design house Pininfarina S.p.A. "We will do all styling in Italy – we will not do that in China." But in order to cater to the growing number of contracts from Chinese automakers, Pininfarina will soon begin engineering and product development in China with a center in Shanghai's suburb of Anting. Pininfarina has been working with Chinese automakers since 1996.

Le Mans champ: laser lights are the future

Three-time Le Mans 24 Hours race champion Allan McNish has told us that technology first trialled at the world famous endurance event often makes it on to road cars – and this year’s big thing will be laser lights. Speaking ahead of Le Mans 2014, McNish said that racing is more relevant to everyday cars than people think – with features from seat belts to windscreen wipers debuting at the race. Audi R8 V10 plus review (2013 onwards) Las Vegas debut for Audi Sport Quattro laserlight concept “The laser light’s on this year’s Audis will make it onto road cars straight away,” McNish told us.