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Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.

Winners of the 'Ultimate LA Machine' Design Challenge announced

 The judges of the Los Angeles Auto Show's Design Challenge have named the Dodge Superbee and Volkswagen Mobile Lounge as joint-winners of the first ever automobile design studio competition. Designer Reto Brun of Volkswagen/Audi Design Center California said his studio considered two Los Angeles issues when designing the Volkswagen Mobile Lounge - an antidote to traffic and a better option for the area's "limo-centric" entertainment culture. Whisper-quiet fuel cell technology whisks occupants towards their destination while electronically controlled tinted glass, an open living space and innumerable in-car amenities provide a supremely comfortable environment.

VW further lifts veil on new midsize sedan

Volkswagen of America Inc. has released new teaser images of the mid-sized sedan slated for assembly in Chattanooga, Tenn. The German design influence is apparent in the three renderings, which show front, side and rear views of the coming sedan, which is larger than the Passat.