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New range-topping BMW X7 SUV confirmed

BMW has officially confirmed it will add a new range-topping SUV called the X7 to its lineup. The X7 will be the largest SUV ever produced by BMW, offering seating for up to seven in three rows of seats. X7 production will start in 2016 at BMW's Spartanburg plant in South Carolina.

Bertone looking for buyers as bankruptcy nears

Italian design house Bertone has confirmed it entered bankruptcy proceedings in Italy, The Telegraph reports, amid recent reports that it laid off a significant percentage of its workforce. A spokesperson for the struggling company told The Telegraph that the company is searching for a buyer. "The problem is many debts and very high costs.

Saab signs deal with second China partner

Saab has agreed to China's Zhejiang Youngman Lotus Automobile Co. taking an equity stake in the company as part of a distribution and manufacturing joint venture. Saab and its owner Spyker Cars NV signed a deal with Chinese car distributor Pang Da in May worth up to 110 million euros that involved setting up a joint venture with Spyker and a partner in China to start making Saabs in China within two years.