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Toyota to replace the gas pedals on 3.8 million recalled vehicles
Wed, 25 Nov 2009Toyota Motor Corp. said Wednesday it will replace the accelerator pedals on 3.8 million vehicles involved in the company's largest recall ever. The models involved are: -- 2007 to 2010 model year Camry -- 2005 to 2010 Avalon -- 2004 to 2009 Prius -- 2005 to 2010 Tacoma -- 2007 to 2010 Tundra -- 2007 to 2010 Lexus ES 350 -- 2006 to 2010 Lexus IS 250 -- 2006 to 2010 Lexus IS 350.The company said it will reconfigure the shape of accelerator pedals to cut down on the risk that they may be jammed in the floor mat.
Saab China: Deal to sell Saab to Youngman & Pang Da is already in trouble
Sat, 05 Nov 2011Will GM stop the sale of Saab to China? Selling Saab to China was always going to be fraught with difficulties. The initial deal Victor Muller seemed to have brokered with Youngman and Pang Da was to sell a majority stake in Saab for €245 million but leave Victor Muller in charge.
Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.