Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Chrysler Delta arriving at UK dealers – Chrysler Ypsilon arrives September

Chrysler Delta - now arriving in UK dealers There’s a long history of Lancia in the UK being associated with grief. So much so that Lancia left the UK market altogether in 1994. But now it’s on the way back, although you wouldn’t know it from the badges on the cars which herald that return – the Chrysler Delta and the Chrysler Ypsilon.

Toyota’s production hydrogen car will be the Toyota Mirai

It looks like this is the Toyota Mirai Toyota are planning to join what looks set to be a bit of a rush by car makers to introduce mainstream hydrogen fuel cell cars with a production version of the Toyota FCV Concept. That production FCV was from Toyota revealed in June, but it didn’t have a name. But it seems, at least according to a report from Bloomberg, that it will be the Toyota Mirai.