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Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.

Details of UK's £5000 Plug-In Car Grants published

The Government has signed off the Plug-In Car Grants, giving details of which electric cars qualify for the £5000 grants. The incentive means that cars such as the Vauxhall Ampera will cost £28,995, GM confirmed today. Transport secretary Philip Hammond and business minister Mark Prisk announced the scheme and confirmed which areas will qualify for the second round of Plugged-In Places funding - allowing councils to install electric car recharging networks.

2014 Mitsubishi i-MiEV receives $6,130 price cut

If you thought that pure-electric cars were still too expensive to make sensible alternatives to gas or diesel cars, Mitsubishi is about to deal another blow to that notion. The electric powered i-MiEV is coming back to the U.S. for the 2014 model year, and Mitsubishi has slashed $6,135 dollars off the price.