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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Lamborghini Urus SUV – made in SLOVAKIA

The Lamborghini Urus SUV to be made in SLOVAKIA It could be argued that the appeal of Lamborghini stems from its ‘Italian-ness’, but it seems ‘Made in Italy’ is not an honour Lamborghini are going to bestow on their new Urus SUV. Instead, the plan is to build the Urus alongside other VW Group SUVs at VW’s plant in Bratislava, Slovakia. Autonews is reporting that VW are planning to build the Urus alongside the Porsche Cayenne, Audi Q7, VW Touareg and the bodies for the new Bentley SUV (they were planning to build the Bentley SUV in full in Bratislava too, but now it will be just the body to make sure the Bentley SUV is ‘British’).

Chevrolet Corvette owners wear their passion on their license plates

Chevrolet Corvette owners are a passionate lot. And many are happy to wear their love for the two-seater on their license plates. Last week, hundreds of Corvettes and their owners gathered at the National Corvette Museum in Bowling Green, Ky., for the C5/C6 Bash.