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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.

Pagani Huayra

Horatio Pagani took the opportunity of the Geneva motor show to launch the successor to the critically acclaimed Zonda hyper-car. The Huayra builds on the foundations of the Zonda, retaining a clear visual link to its predecessor. Pagani's trademark stylistic details are still present, such as the emphasis on carbon fiber and the quartet of exhausts.

Singapore Grand Prix (2012): Hamilton on pole for McLaren

Lewis Hamilton posted a stunning lap time to take pole position in tomorrow’s Singapore Grand Prix ahead of the Williams of Pastor Maldonado. All the talk about Lewis Hamilton may have been about a move to Mercedes this week, but under the lights at Singapore today it was all about his stunning lap that captured pole position for tomorrow’s race. Hamilton posted a time of 46:362 to take pole – his third pole in four races – almost half a second in front of second place man Pastor Maldonado in the Williams.