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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.

OnStar to tap Google to guide the Chevrolet Volt

General Motors Co.'s OnStar telematics unit is bringing Google mobile navigation technology into the car. Chevrolet Volt drivers whose smartphones use Google's Android operating system will be able to use their phones to pinpoint their vehicle's location on Google Maps, GM said in a statement released Tuesday. They can then request a destination by speaking it into the phone, and have the desired destination sent directly to the car.

Durheimer succeeds Paefgen at Bentley, Bugatti

Porsche R&D chief Wolfgang Durheimer has been named the new head of Bentley and Bugatti to replace Franz-Josef Paefgen, who is retiring. Durheimer, 52, also becomes head of motorsports for the Volkswagen Group, beginning in February. Paefgen, 64, has lead Bentley since 2002 and Bugatti since 2007.