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Spyker signs deal with China's Hawtai Motor to raise funds for Saab

Saab owner Spyker Cars on Tuesday said it has signed an agreement with China's Hawtai Motor Group to form joint ventures for manufacturing, technology and distribution. The agreement will also provide $222 million (150 million euros) funding for Saab, which has been forced to halt production because it cannot pay suppliers' bills. Victor Muller, Spyker CEO and Saab chairman, said the partnership will allow Saab to enter the Chinese car market with a strong Chinese manufacturer.

College for Creative Studies provost, design guru dies

Imre Molnar, the longtime academic chief at the prestigious College for Creative Studies in Detroit, died Dec. 28 of a heart attack while bicycle riding in California, the school announced. He was 61 years old.

Victor Muller sells Spyker sports cars to CPP

Supercar maker Spyker is to be sold. Coventry-based coachbuilder CPP has announced a memorandum of understanding (MOU) to buy Spyker Cars from Spyker Cars N.V, the holding company which owns Spyker and Saab. No. Saab remains under the ownership of Dutch company Spyker Cars N.V. This sale is of Spyker, the manufacturer of flamboyantly detailed mid-engined supercars. CPP has been supplying chassis and body panels for Spyker since the brand was relaunched in 2000, and completed an agreement to handle full manufacturing of the current range in 2009 – the production of Spyker cars moved from the Netherlands to Coventry in 2010.   The MOU, valued at €32m, will mean that CPP Global Holdings Ltd will become manufacturer and owner of Spyker – €15m will be paid straight away, with the remaining €17m paid over a six year 'earn-out' period.