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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED
Mon, 31 Oct 2011Saab: 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.
Infiniti Q30 concept debuts before Frankfurt auto show
Mon, 09 Sep 2013A concept of the new Infiniti Q30, a crossover hatchback that will go on sale in the US in 2015, has been unveiled ahead of a Frankfurt motor show debut. Based on new front-drive platform developed by Mercedes-Benz for its A-class family, the Q30 features a slightly raised ride height, sweeping roofline and confident styling, all aimed at winning sales from younger buyers who are predicted to make-up 80 per cent of global luxury car-buyers by 2020. 'The shape of the Infiniti Q30 concept deliberately challenges categorisation.
2012 Volkswagen Beetle to launch with Black Turbo edition
Mon, 13 Jun 2011Volkswagen is borrowing a page from sister company Porsche and will turn to the color black to sex up the soon-to-arrive 2012 VW Beetle--and to draw attention to a preorder program launching this year. The Beetle Black Turbo edition follows in the lineage of Porsche 911s augmented with Black editions, and the VW will sticker for $25,720, including shipping. Power comes from a 2.0-liter four-cylinder rated at 200 hp and 207 lb-ft of torque, which is the same as the regular turbo Beetle--and VW's hot hatch, the GTI.