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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.

Birth of an Icon

The first thing you notice when you step into Icon's sprawling, 120,000-square-foot shop in Chatsworth, Calif. -- past the fenced-in yard of Broncos of every size and Land Cruisers of every generation, past the 1952 Chrysler Town & Country station wagon with the DeSoto front end and a massaged patina of greens, browns, and ochres resembling a Cezanne painting -- is the smell. It smells old in here.

GM to double size of battery lab

General Motors says it will spend $8 million to double the size of its Global Battery Systems Lab, which the company claims is the largest and most technologically advanced automotive battery lab in the United States. GM says the expansion will speed up the development of hybrid and electric vehicles, such as the upcoming Chevrolet Volt, by improving on-site testing of battery cells and systems. When finished, the lab will be 30,000 square feet bigger than it is now, for a 63,000-square-foot total.