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Saab on brink of closing after GM rejects rescue plan
Mon, 19 Dec 2011Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.
Kia Proceed
Thu, 28 Sep 2006By Phil McNamara Motor Shows 28 September 2006 03:54 Kia Proceed: the lowdown Shock! One of the most significant cars unveiled at today’s Paris show was a Kia. Not only was this Proceed concept sexy and sporty, a first for a Kia.
Electric Rolls Royce Phantom EV 102EX at Geneva
Sun, 20 Feb 2011The Rolls Royce EV 102EX - Geneva Debut Eighteen months ago we ran a story headlined ‘Electric Rolls Royce Phantom Coming?’ after the man from Goodwood let slip at the Goodwood Revival that Rolls Royce were looking at the viability of an electric Rolls Royce. Our first reaction was to throw our hands up in horror and declare it sacrilege, until we decided to ignore our preconceptions and prejudices and look at the benefits an electric motor could bring to a Rolls Royce. Benefits like absolute silence – long a Rolls Royce claim, rarely a Rolls Royce reality – and huge waves of torque that arrive let a Tsunami that never ends.