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Ford posts $2.1 billion profit on rising sales, lifts production plan
Tue, 27 Apr 2010Ford Motor Co. posted net income of $2.1 billion in the first quarter, almost twice the figure projected by analysts, fueled by a 37 percent rise in U.S. sales.
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.
Volume sales of plug-in Toyota Prius to begin in two years
Mon, 21 Dec 2009Toyota will start leasing 150 of its Prius plug-in hybrids in the United States this winter and plans retail sales of tens of thousands in two years. The North American arrival, scheduled for around February, is part of a global rollout of 600 units. With a longer electric-only cruise range than the standard Prius, the plug-in is Toyota's answer to the Chevrolet Volt extended-range hybrid being launched next year by General Motors Co.