Parking Brake Cable Rear Left Dorman C661054 on 2040-parts.com

Panasonic invests $30 million in Tesla Motors to develop batteries

Japanese electronics giant Panasonic Corp. said late Wednesday it invested $30 million in Tesla Motors Inc. to cooperate on green powertrain development.

Funky Kia Provo Concept arrives ahead of Geneva 2013

The Kia Provo Concept is heading to the 2013 Geneva Motor Show and looks to be half butch urban warrior and half coupe. With the 2013 Geneva Motor Show looming we’re going to see plenty of reveals and leaks of new cars, concept cars and refreshed cars. Kia’s offering today comes in the ‘Concept’ category, but we hope it ends up in the ‘New Car’ category before long.

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.