Porsche 356a/b/c Sump Plate W/magnet on 2040-parts.com

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Ford Design Center set to expand

Symbolic of the importance it plays in Ford's small car strategy, the automakers Design Center in Cologne, Germany, is about to receive a €11.6m redevelopment. Construction is already underway on the facility's new wing, which will include design studios and 100 workplaces. The 3,000 square-meter extension is set to be completed by the end of the year.

Watch the Official Cars 2 trailer, version 2

The second look at the new Disney Pixar movie Cars 2 has hit the web. This time, Lighting McQueen, Tow Mater, Sally and a host of new characters head to Tokyo. Among the new Cars 2 characters?