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Saab China Deal: Chinese Government support ‘In Principal’

Saab gets encouragement from China Minister Yesterday we had the news that Pang Da and Youngman – the Chinese companies seeking to buy Saab – have outlined the investment they propose to make in Saab. But the deal to sell Saab is fraught with difficulties for Victor Muller. It’s one thing getting someone to say yes, but there are an enormous number of hoops to jump through before any deal can be finalised.

Koenigsegg teases Agera One:1 hypercar with 1,340hp

Koenigsegg has released the first official image of its new Agera One:1 hypercar, set to make its world debut at the 2014 Geneva Motor Show next month. Based on the Swedish firm’s Agera R model, the One:1 concept produces a whopping 1,340hp and weighs 1,340kg, meaning the car has a power-to-weight ratio of 1,000hp per tonne. That’s a lot.

GM's Henderson says no decision yet on bankruptcy

General Motors CEO Fritz Henderson said today the company has not decided whether to file for bankruptcy protection, but that preparations continue in case such an action is necessary. "We have until June 1, and if we can't do it between now and June 1 then we do it in bankruptcy," Henderson said during a morning teleconference with journalists. Still in his first month at the helm after the March 30 departure of CEO Rick Wagoner, Henderson said he wasn't sure who would make the decision.