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Hyundai to launch N high-performance brand in partnership with WRC team

Microsoft Hyundai today announced it will launch a new high-performance N brand to rival go-faster versions from German manufacturers. Future Hyundai N models will be low-volume sporting derivatives, inspired by the new i20 WRC rally car which will launch at the Monte Carlo race in January 2014. The N badge is designed to cement the link with Hyundai's Namyang R&D centre in Korea, which helped develop the i20 WRC in record time - the team was only founded 12 months ago.

Alfa Romeo and IED collaborate on 'Gloria' concept for Geneva

The European Institute of Design (IED) in Turin will unveil its new Gloria concept, developed in collaboration with Alfa Romeo Style Center, at next month's Geneva motor show. The sports sedan concept, which is 4,200mm long, 1,920mm wide, 1,320mm high sitting on a wheelbase of 2,900mm, is previewed in this render, which shows a traditional Alfa grille that feeds into the hood's prominent V-shaped character lines. Two leather hood straps in front of the windshield are a nod to the brand's older models.

U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.