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Saab says it will restart production after securing short-term loan

Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.

VW take control at Italdesign Giugiaro through Lamborghini.

Maserati Merak - by Giugiaro Perhaps it makes sense politically for an Italian company to takeover another, but the outcome is the same – VW has taken a majority stake in Italdesign Giugiaro – 90.1% – through its Italian subsidiary Lamborghini Holdings S.p.A. Just as we expected. And there’s a lot of sense in this move by VW – even if they are going back on their stated intent to end the acquisitions – as there’s a strong history with Giugiaro.

Ford Escort returns – for China: Shanghai Motor Show

The Ford Escort Concept has been built by Ford with the aim of taking a sizeable chunk of China’s compact saloon market – estimated at 5.5 million sales a year – and looks remarkably production viable and far from ‘budget’. Escort is a badge China knows – there are plenty of old Escorts floating around Chinese roads – so it’s a sensible move by Ford to revive a badge that already resonates as a compact, affordable saloon with Chinese car buyers. This new Escort gets a proper version of Ford’s latest design language – including the Aston Martin grill – and has good lines and strong detail including jeweled headlights with the lucky Chinese ’8′ discernible ; it looks entirely cohesive and nothing like a Focus with a boot grafted on.