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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED
Mon, 31 Oct 2011Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.
Hyundai HED-4 concept
Tue, 20 Feb 20074x4's have become for many shorthand for the cause of climate change, demonised as emblems of irresponsibility. To launch one that pats the environment on the back rather than stamping all over it in neutral, ergo pure, Switzerland is therefore a welcome repost to typical media hysteria. So alongside the unveiling of their new C-segment rival, the FD, Hyundai will present the latest example of their advanced vehicle research, the HED-4 concept.
Mercedes to build CLS Shooting Brake
Tue, 09 Nov 2010Mercedes has announced that the CLS Shooting Brake, which was shown as a concept at the Beijing motor show in April 2010, will go into production in 2012. Well, if you want a car that will turn heads around town – and find the E-class estate has a little too much room – then this is the car for you. Mercedes flatly refuses to admit that the CLS Shooting Brake is an estate, preferring to call it a ‘sporty four-door coupe with a sloping tail end based on the CLS’. In essence, this car is a hatchback version of the CLS, and despite a slightly raised roof, it still sits a full 10cm lower than its E-class sibling.