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Top Gear’s James May does 259mph in a Bugatti Veyron Super Sport

Top Gear's James May in the Bugatti Veyron Super Sport The Top Gear boys were running rumours around a few days ago that they had been in on the new world record speed for a production car set by the Veyron Super Sport. We didn’t know exactly what they’d done, but we did know none of the three amigos were at the wheel when the Super Sport averaged  267.81mph. So we thought we’d wait and see what came out in the wash before we reported it.

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.

Porsche purchases Andial performance brand

Porsche announced on Thursday that it has purchased the legendary Andial name that has become a staple in the realm of Porsche racing and performance tuning. In 1975, the late Arnold Wagner (AN), Dieter Inzenhofer (DI), and former Porsche Motorsport North America president and current consultant Alwin Springer (AL) came together to build Andial (an anagram of the principals names), a successful and respected independent authority on Porsche-performance tuning. Since the last active owner, Inzenhofer, is retiring later this month, timing was ripe for Porsche to jump in and offer to carry the Andial torch.