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Chinese bank may join Saab rescue deal

Saab's owner, Swedish Automobile, said on Monday it is discussions with a bank in China and Chinese automaker Zhejiang Youngman Lotus Automobile over a rescue deal for Saab. Reports had said on Sunday that the Bank of China would replace China's Pang Da as an investor in Saab, which is under bankruptcy protection. Swedish Automobile confirmed Monday that it is talking with Youngman and a bank in China about an equity interest, but did not name the bank.

Ford sends Mustang, Edge to Europe

Ford plans to export the Mustang to Europe, and it will likely be the next generation of the famous pony car due within a couple of years. It has also shown redesigned compact and full-size vans it will sell in the United States by 2014. The automaker also showed a lightly restyled Fiesta and a high-performance ST model that go on sale in Europe later this year.

This Week in 1958: Montgomery, NY, hosts Governor's Trophy Race for the third year in a row

Fifty-five years ago was the third consecutive year that a former Air Force base in Montgomery, N.Y., served as a racetrack. The Governor's Trophy Race was a growing event and spectators only had to travel 75 miles from New York City to see race legends like Carroll Shelby compete. Nearly 30,000 spectators came to the two-day event in 1957, and race organizers were expecting even more in 1958.