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Saab secures more funds as it seeks to avert collapse
Mon, 27 Jun 2011Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'. Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.
Ford lines up Mark Fields to succeed Alan Mulally
Thu, 01 Nov 2012Ford Motor Co. has named Mark Fields its chief operating officer, putting him in line to succeed CEO Alan Mulally when he retires no sooner than the end of 2014. The appointment of Fields, 51, who has been president of Ford's Americas unit, was part of a sweeping overhaul of executive ranks unveiled Thursday.
Pontiac SD-290
Wed, 21 Nov 2007According to GM, the Pontiac SD-290 concept is "Designed to evoke the emotions of classic sports cars". Introduced at SEMA, the vehicle is derived from a Pontiac Solstice but has been transformed into a pure single-seat race car with its passenger compartment made obsolete by a hard tonneau cover. Despite its competition red paint scheme, it is difficult not to relate the SD-290 to the timeless shape of a D-Type Jaguar. We can also see the influence of BMW's 2004 H2R land speed record breaking concept in the SD-290's asymmetrical layout, with its racing cockpit protected only by a small windscreen in front of the driver and a faired headrest and roll-bar behind the seat.