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Saab gets latest lifeline via $5 million infusion from Chinese company

Saab has been on the edge of collapse since a cash shortage early this year forced it to halt production. Now Automotive News reports that a last-minute payment from China's Zhejiang Youngman Lotus Automobile has given the Swedish carmaker yet another shot. Youngman wants to get a stake in Saab and has taken the first step by giving the company $5 million to cover tax expenses, with another $26.43 million forthcoming for unpaid salaries and $13.18 million more before the end of December.

Porsche Panameras recalled for seatbelt fix

Porsche is recalling all 11,300 units of the 2010 Panamera to fix a problem with the front seatbelts. According to Porsche, the Panamera's seatbelt mounts could fail in a crash when the front seats are in the full forward position. No injuries have been reported.

Alfa Romeo Zagato TZ3 Stradale

Following on from the Villa d'Este Design Concept Award-winning TZ3 Corsa, Zagato has announced the production of nine more TZ3 models. Unlike the 8C-based TZ3 Corsa, the new Stradale will be based on a Dodge Viper ACR platform and V10 drivetrain, making it the 'first American Alfa Romeo' according to Zagato. The car is said to be a tribute to Alfa Romeo and Zagato's street legal heritage, and continues the line of cars that ended with the S.Z.