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Saab ends deal with Chinese investors
Mon, 24 Oct 2011Saab owner Swedish Automobile scrapped a $340 million investment deal with Chinese automotive companies Zhejiang Youngman Lotus and Pang Da after they proposed a buyout, straying from the original deal. Youngman and Pang Da signed a nonbinding agreement in July to take a combined 53.9 percent stake in Swedish Automobile. The Chinese companies say circumstances have changed since that time, so the deal should too.
Jaguar reveals first ‘new’ lightweight E-Type
Tue, 12 Aug 2014CLASSIC car fans and speculators alike will be rejoicing as Jaguar has revealed the prototype of its ‘new' lightweight E-Type. Six further examples will be built by Jaguar Heritage and sold as period competition vehicles, using previously unused chassis numbers to give them true authenticity. In 1963 Jaguar started the 'Special GT E-type' programme to build 18 lightweight racers, but only 12 were ever made.
Hearst moves Road & Track
Thu, 14 Jun 2012New York publishing house Hearst says it will move the Road & Track magazine editorial offices from Newport Beach, Calif., to Ann Arbor, Mich., home of its other auto-magazine title, Car and Driver. Additionally, Larry Webster has been named editor in chief, replacing Matt DeLorenzo. Webster had been automotive editor of Hearst's Popular Mechanics since January 2010 and before that was the Detroit editor for Popular Mechanics.