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Saab on brink of closing after GM rejects rescue plan
Mon, 19 Dec 2011Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.
Pininfarina adds product-development director
Mon, 25 Oct 2010Starting on Dec. 1, Andrea Maria Benedetto will serve as Italian car-design firm Pininfarina S.p.A.'s product-development director. Benedetto, who last served as the vice president of body and chassis function in the research and development division of Toyota Motor Europe, will organize engineering and R&D activities.
Kia Track'ster concept car (2012) first official photos
Mon, 06 Feb 2012Kia will show the new Track'ster at the 2012 Chicago motor show. It's a concept car designed to show what a harder, faster Kia Soul hatch could be like. Scant information is available at present, but Kia has confirmed the Track'ster was designed by Kia's Californian studio, led by Tom Kearns - and today it issued a new photograph of the Track'ster, after last week's design sketch.