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Daimler and BYD name new brand Denza

Mercedes-Benz sources in Germany have confirmed Chinese media reports suggesting that parent company Daimler and Chinese carmaker BYD's new joint venture brand will be called Denza. Created as a Chinese-market-only brand, Denza is planned to support a range of "affordable" electric-powered vehicles, the first of which is set to be unveiled at the Beijing motor show next month. Based on the underpinnings of the first-generation Mercedes-Benz B-class--a car originally designed to accept batteries within its flat floor structure--the first Denza model was developed in China by a team of engineers from both Daimler and BYD Auto.

Audi Q3: Official

Audi Q3 – finally official Ahead of its official reveal at Shanghai this month, the baby SUV that is the Audi Q3 has bowed in, with plenty of detail and lots of photos. Looking exactly how it was expected to look – pretty much the same as the 2007 Audi Cross Coupe Concept , without the Concepty bits – and ready to fit in under the Q5 and mop up sales from those who want a premium, compact softroader. Under the skin the Audi Q3 is pure VW Tiguan, but Audi has grafted on a convincing set of sheet metal – and a typical, classy Audi interior – to put proper daylight between the cousins.

Saab secures more funds as it seeks to avert collapse

Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'.  Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.