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Porsche to take majority stake in VW for £7bn
Fri, 07 Mar 2008By Ben Whitworth Motor Industry 07 March 2008 11:26 Porsche is about to become the majority shareholder in Volkswagen. The sportscar maker has been given the green light to purchase further stock in VW, taking its share past the 50 percent mark to give it a controlling interest. As soon as various legal checks have been cleared, Porsche plans to purchase a further 20 percent of VW stock – it already owns 31 percent - at an estimated cost of around £7 billion.
Citroen Hypnos concept car (2008): first photos
Thu, 04 Sep 2008By Tim Pollard First Official Pictures 04 September 2008 21:17 Never one to shy away from making a big splash at its home show, Citroen will wheel out the extravagant new Hypnos concept car at the Paris motor show 2008. It's a crossover vehicle showing how Citroen could launch a mid-sized 'Allroad' style vehicle. Think of the Hypnos as a C5 on stilts then.Naturally, the new Citroen Hypnos concept car has the requisite hybrid powertrain.
Chinese bank may join Saab rescue deal
Mon, 05 Dec 2011Saab's owner, Swedish Automobile, said on Monday it is discussions with a bank in China and Chinese automaker Zhejiang Youngman Lotus Automobile over a rescue deal for Saab. Reports had said on Sunday that the Bank of China would replace China's Pang Da as an investor in Saab, which is under bankruptcy protection. Swedish Automobile confirmed Monday that it is talking with Youngman and a bank in China about an equity interest, but did not name the bank.