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U.S. equity firm to invest $70 million in Saab
Thu, 20 Oct 2011Race-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.
Video: Vaughn Gittin Jr. drifts in Saudi Arabia
Tue, 19 Jul 2011Ford recently said it was pouring more marketing money into sponsorship of "action" sports. Now comes video of drift racer Vaughn Gittin Jr., a Ford driver, sliding his Mustang around the Al Reem race circuit in Saudi Arabia. "Thanks to the kindness of the entire Al Reem circuit team, they let me get crazy throughout the entire motorsports complex," Gittin wrote on the YouTube post of the video.
CAR interviews Ian Callum (2013) at Frankfurt motor show
Tue, 10 Sep 2013With XK, XF, XJ and F-type, design boss Ian Callum has transformed Jaguar from a brand unable to shake off its retro past into something edgier, cooler and altogether more modern. Now his C-X17 concept promises to take things a step further, breaking Jaguar into the crossover SUV market for the first time ever. CAR caught up with Callum ahead of the concept’s official unveil for an in-depth Q&A session.