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New Porsche Boxster: Geneva 2012

The new Porsche Boxster at Geneva 2012 We catch up with the new Porsche Boxster and Boxster S (2012 – 2013) at Geneva. Looks much the same, but much improved. You’d expect the new Porsche Boxster to look like the old Boxster, not just because that’s the Porsche way but because we’ve already seen the new Boxster in photos and on video.

Gordon Murray and Toray Industries build carbon-fiber electric roadster

U.K. design and engineering firm Gordon Murray Design Ltd. and Japanese carbon-fiber specialist Toray Industries have built a lightweight electric-powered two-seater called the Teewave AR.1.

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.