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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.

BMW i8 Winter testing (video)

The BMW i8 is caught on video cold weather testing We have video of the BMW i8 winter testing in deep snow, in what looks to be a a much closer to production i8. The BMW i8 has been floating around for nearly three years as BMW’s nod to an eco future for supercars. Starting with the Vision EfficientDynamics concept we saw back in 2009, BMW went on to reveal their ‘i’ Brand and reveal the  BMW i8 last summer. With the i8 not likely to hit showrooms until late 2013 or early 2014, BMW are out doing what car makers do and testing their new cars in extreme weather, this time it’s cold weather testing and footage of the i8 frolicking with the snow ploughs.

José Mourinho to get first F-Type Coupe

José Mourinho will be the first customer to drive away in a Jaguar F-Type Coupe after its UK launch tomorrow, as the company announces the Chelsea FC manager as its new brand ambassador. The official UK launch of the Jaguar F-Type Coupe will take place tomorrow evening at Eastwinter Garden in London’s Canary Wharf. Jaguar F-type R Coupe prototype review (2014 onwards) 21 reasons why the Jaguar F-Type Coupe will blow your mind The event, hosted by Jaguar Land Rover managing director Jeremy Hicks, will be open to prospective customers, brand ambassadors and the British media.