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Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.
Alfa Romeo Zagato TZ3 Stradale
Wed, 04 May 2011Following on from the Villa d'Este Design Concept Award-winning TZ3 Corsa, Zagato has announced the production of nine more TZ3 models. Unlike the 8C-based TZ3 Corsa, the new Stradale will be based on a Dodge Viper ACR platform and V10 drivetrain, making it the 'first American Alfa Romeo' according to Zagato. The car is said to be a tribute to Alfa Romeo and Zagato's street legal heritage, and continues the line of cars that ended with the S.Z.
Hydrogen powered London Taxis hit the road
Sun, 06 Nov 2011Hydrogen powered London Taxi revealed last Summer Over two years ago London Mayor, Boris Johnson, promised we would have a ‘Hydrogen Highway’ in London in time for the 2012 Olympics, with a small fleet of 150 cars, 20 black cabs and 5 buses all running on Hydrogen. He also said that London would have half a dozen hydrogen refuelling stations and, in typically ‘Boris’ style, proclaimed that Britain would become a ‘World Leader in Fuel Cell Technology’ and that one in three cars would be powered by hydrogen by 2020. And although we took Boris’s proclamations with a pinch of salt, we were pleased to see a senior politician seeing the future as something other than plug-in BEVs.