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Koenigsegg signs deal to buy all of Saab

By Tim Pollard Motor Industry 18 August 2009 10:17 Supercar maker and industrial group Koenigsegg today announced it had signed the deal to buy every one of GM's shares in Saab. The news clears the way for Saab's rebirth as an independent car maker freed from the shackles of General Motors and follows an earlier memorandum of understanding. Koenigsegg has signed the stock purchase agreement to buy 100% of Saab – but there are still numerous hurdles before the deal completes 'in the next few months.' Exactly.

SkyTran to trial maglev two-seater transport system in Israel

California-based skyTran has signed an agreement with Israel Aerospace Industries (IAI) to build a test version of its patented maglev transport network.  The 500 meter-long demonstrator will begin operation late next year, and is designed to prove the system's potential for reducing road congestion by lifting passengers above the highway, into space that's not currently utilized. The skyTran system is a network of computer-controlled, two-person vehicles that use maglev technology. Users will request one of the system's two-seater pods to the nearest available station using a smartphone app.

New ‘E10’ fuel could cost drivers £billions

A Government proposal to implement a new type of petrol fuel called ‘E10’ has been met with outrage, with consumer car publication What Car? branding the plans as “irresponsible.” E10 petrol could potentially cost UK drivers billions of pounds each year, as the new fuel is less efficient and more polluting than the current blend of petrol used in the UK. On Bing: see pictures of how petrol is made Scientists produce “petrol from air” Petrol sold in Britain already conforms to E5 rules, containing up to 5% bio-ethanol by volume.