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U.S. equity firm to invest $70 million in Saab
Thu, 20 Oct 2011Race-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.
Porsche 918 Spyder (2010) at Geneva motor show
Mon, 01 Mar 2010Porsche has shown off this stunning new 918 Spyder concept car on the eve of the 2010 Geneva motor show. It’s a mid-engined two-seater in the mould of the Porsche Carrera GT – a landmark supercar to showcase Porsche’s technical nous. Michael Macht, president and chief executive officer of Porsche, unveiled the 918 Spyder in Switzerland, and intriguingly proclaimed that Porsche has never shown a concept car that it hasn’t put into production… Porsche’s official press release was light on the details, but after the unveil Porsche’s R&D chief Wolfgang Durheimer talked CAR around the 918 Spyder and revealed some eye-popping figures for this part-electric hybrid supercar which weighs in at 'less than 1490kg'.
Volvo's eco-friendly DRIVe (2008): first photos and video
Wed, 10 Sep 2008By Nick Eaton First Official Pictures 10 September 2008 10:00 DRIVe is Volvo’s new eco-friendly, fuel-efficient technology that will be unveiled at the Paris motor show in October 2008, and we'll see it first on the C30, S40 and V50 1.6-litre diesel models. All of these cars achieve CO2 figures below 120g/km, which places them in the UK's VED tax band B and, according to Volvo, makes them the most efficient cars in their respective classes. UK sales start in January 2009.