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Saab seeks court protection from creditors

Saab 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.

Audi R8 V8 Limited Edition launched to celebrate Le Mans win

Audi R8 V8 Limited Edition Audi has had an incredible run at Le Mans, and is celebrating in style by launching the Audi R8 V8 Limited Edition in to the UK market. Despite the R8 Limited Edition being built to mark Audi’s Le Mans triumphs, the R8 doesn’t get a diesel engine or more power. What it does get is a bit of a cosmetic makeover and a list of goodies dropped in.

Single-seat Colibri electric vehicle set for 2015 launch

If the 2014 Geneva Motor Show heralded the dawn of a new age of small cars, then the tiny Innovative Mobility Automobile (IMA) Colibri is well placed to take advantage of this new era. The Colibri – which means hummingbird – is a small, single-seat, three-door electric vehicle that’s set to go on sale later this year. Prices for the entry-level Colibri are set to fall well below €10,000 (£8,340) plus battery rental charges, meaning it could go head-to-head with the likes of the new Citroen C1, Peugeot 108 and Toyota Aygo.