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Saab reportedly bought by Chinese-led consortium

A Chinese-controlled consortium has completed a deal to buy the assets of bankrupt Swedish carmaker Saab, media reports said. National Electric Vehicle Sweden (NEVS) will pay 1.5 billion to 1.8 billion kronor ($210 million to $250 million) for Saab, excluding spare parts company Saab Automobile Parts AB, according to reports in Sweden. NEVS did not confirm the reports.

Ford reaches agreement to sell Volvo to Geely for $1.8 billion

Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced on Sunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.

Jaguar XE full price & specs revealed – costs from £26,995 to £44,870

Jaguar XE full price & specs revealed – costs from £26,995 to £44,870 The new Jaguar XE had a glitzy London launch last month, but all we really got was the XE S; the lesser models were kept under wraps until the Paris Motor Show debut. But now that’s upon us we get full UK specs and prices for a car that will be the make or break of Jaguar, certainly in terms of becoming a real challenger to the German triumvirate and moving from niche maker to proper global player in the Premium market. And Jaguar are obviously feeling pretty bullish about the XE, because instead of offering it at a discount to their main challenger – the BMW 3-Series – they’ve actually come in at a bit of a premium.