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Spyker Cars to change name, shift focus

Spyker Cars is changing its name to Swedish Automobile N.V., and its new Chinese partner, Pang Da, is waiting for authorities to approve the investment in Spyker and Saab. Known for more than a decade as a producer of exclusive muscle cars, Spyker sold off its sports-car business in February to focus on Saab. The company bought the Swedish automaker a year ago when General Motors was on the verge of shutting Saab down.

Saab is sold again: two Chinese makers buy Saab

Chinese car makers Pang Da and Youngman today agreed to buy Saab in its entirety from Swedish Automobile. It's the latest extraordinary twist in the saga of Saab, which has been technically bankrupt since September 2011 and built just 11,000 cars this year. The deal, which will see the Chinese car makers pay €100 million for Saab, has not yet however been signed and sealed.

Toyota announces winners in design competition (w/ Video)

Toyota has announced the winners of a sponsored design competition hosted by London's Royal College of Art. Based on the theme of ‘Intelligent Urban Living', the winners include a simple but effective vertical storage system to keep bikes out of reach of thieves and a keyboard display that makes life easier for two-fingered typists. Inspired by the design of Toyota's innovative iQ city car, which addresses many of the challenges of modern city living with its compact dimensions, the contest generated inspiration that gave a new twist to some familiar household objects and produced innovations to make modern life easier and more environmentally responsible.