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Chinese bank may join Saab rescue deal

Saab's owner, Swedish Automobile, said on Monday it is discussions with a bank in China and Chinese automaker Zhejiang Youngman Lotus Automobile over a rescue deal for Saab. Reports had said on Sunday that the Bank of China would replace China's Pang Da as an investor in Saab, which is under bankruptcy protection. Swedish Automobile confirmed Monday that it is talking with Youngman and a bank in China about an equity interest, but did not name the bank.

Caterham sells F1 team

Caterham The Caterham Formula 1 team has been sold to a consortium of Swiss and Middle-Eastern investors following a poor season so far in 2014. Rumours that Caterham would cut its losses have been rife, since team founder Tony Fernandes threatened to quit if things didn't improve this year. The team is currently bottom in the championship and Fernandes hinted of an exit last week, when he tweeted “F1 hasn't worked, but love Caterham Cars.” Graham Macdonald, Caterham Group CEO: “Firstly I want to thank everyone who was involved in the F1 team for all their hard work and dedication since the team’s first days in 2009.

2011 Kia Magentis / Kia Optima revealed

Kia has revealed the 2011 Kia Optima / Kia Magentis ahead of a reveal at the New York Motor Show in April You might reasonably expect that Kia are teasing the 2011 Kia Magentis (or Kia Optima, as it is in the US) ahead of a reveal at the Geneva Motor Show. After all, every other car maker is at it at the moment. But Kia are teasing this ahead of the next big motor show after Geneva – the 2010 New York Motor Show – which isn’t until April.