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£10 million cash boost for Lotus

Business secretary Vince Cable has visited Lotus’ Norfolk headquarters today, where he announced the company would be awarded £10.44 million from the Regional Growth Fund. The money will be used for research and development of products, as well as staff training. The sports car company expects to create 313 full time jobs to support production over the coming years.

Citroen at the London motor show 2008

A modded Citroen C-Crosser wasn't enough to keep us awake on the Citroen stand By Ben Whitworth and CAR reader reporter Carcare Motor Shows 23 July 2008 15:49 A quiet show for Citroen, to be honest... What’s new on Citroen’s London motor show stand?Not a great deal at all, sadly. There’s the UK debut of the C-Cactus concept car – which we originally saw at the 2007 Frankfurt motor show.

U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.