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Saab on brink of closing after GM rejects rescue plan

Saab 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.

Chevrolet Corvette Stingray costs £61,495

The new Chevrolet Corvette Stingray will cost £61.5k in the UK The 2014 MY Corvette Stingray arrived at the Detroit Motor Show in January, and now it’s arriving in the UK. The new Stingray comes with a 6.2 litre LT1 V8 offering a modest (for its size) 455bhp and 460ln/ft of torque, enough to get the Stingray to 60mph in under 4 seconds and, say Chevy, still offer ‘improved’ economy over the old model. In the real world, though, that probably means under 20mpg.

RCA students open Clerkenwell Week Design with Jaguar-inspired artwork

Two Royal College of Art students have designed a Jaguar-inspired sculpture to celebrate the opening of Clerkenwell Design Week in London. Ewan Gallimore and Claire Miller developed their idea alongside Jaguar's Advanced Design team in Whitley, Coventry, by using technologies applied in the creation of Jaguar production and concept cars. The two were the successful team from a selection of nine groups who submitted entries after Jaguar's challenge to the RCA's Vehicle Design and Textile Design departments.