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Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.

Energy Department recovers $21 million from Fisker to pay back loans

The U.S. Department of Energy says it recovered $21 million in cash from struggling Fisker Automotive that will go toward repaying nearly $200 million in loans extended under a U.S. program to spur advanced vehicle development.

Ford shuffles European production

Ford Motor Co. said Tuesday it is realigning its European production in a move that will add two models at the carmaker's Valencia, Spain, factory and an electric version of the Focus at the Saarlouis, Germany, plant. Ford also said the B-Max small wagon will be built in its Craiova, Romania, factory and the plant will add a second, as-yet-unnamed small-segment model.