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Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.

Audi R8 e-Tron WILL go in to production & get 280 mile range

The Audi R8 e-Tron (pictured) is going in to limited production. Audi has been playing with the electric R8 e-Tron for the last five years, with a constant on and off for production. But it seems the R8 e-Tron is going in to production after all.

Range Rover Evoque Autobiography Dynamic to debut at Geneva

If you'd like to buy a Land Rover Range Rover Evoque, you've got your choice of Pure, Pure Plus, Tropicana Pure Premium, Prestige and Dynamic. But say you're teetering between the Prestige and Dynamic models up at the top of the range; you want opulence and sportiness in equal measure. Fear not, for Tata's highfalutin' off-road division has heard your call.