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Energy Department recovers $21 million from Fisker to pay back loans

The U.S. Department of Energy says it recovered $21 million in cash from struggling Fisker Automotive that will go toward repaying nearly $200 million in loans extended under a U.S. program to spur advanced vehicle development.

Saab enters Court Protection – just as we predicted

Victor Muller takes Saab in to Court Protection Two weeks ago we reported that Saab were about to seek court protection from its creditors in a bid to buy time until investment from China arrives. And that’s exactly what’s happening. Saab are waiting for investment funding from China – via Pang Da and Youngman – totalling €245 million which should put Saab back on a solvent footing – at least for a while – and allow the beleaguered Swedish car maker to resume production and push on with future plans.

Hyundai Veloster Turbo R-Spec revealed: Los Angeles Auto Show

Hyundai Veloster Turbo R-Spec revealed We like the Hyundai Veloster – really, we do – even if its looks make promises it really can’t deliver. There’s nothing wrong with the way the Veloster goes or handles, but there’s nothing exciting either; it’s a sporty-looking coupe for buyers who don’t really like driving but want something that looks sporty. And that’s a big market.