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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.

Mercedes S-Class Coupe concept to debut at Frankfurt Motor Show

The new S-Class train rolls on sans abatement. According to Germany's Auto Motor und Sport, an S Coupe concept will go on display at this year's Frankfurt show. Expect the concept to differ from the production model in flashy trimmings only; the guts of the production beast will be there.

Jaguar F-Type Configurator LIVE

The online configurator for the new Jaguar F-Type is now live. Our Jaguar F-Type V8 S ended up costing £91,440. The F-Type configurator is a decent effort with just about everything speccable – and viewable as you spec it up – from colours and wheels to active exhaust and flat bottomed steering wheel.