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Spyker signs deal with China's Hawtai Motor to raise funds for Saab

Saab owner Spyker Cars on Tuesday said it has signed an agreement with China's Hawtai Motor Group to form joint ventures for manufacturing, technology and distribution. The agreement will also provide $222 million (150 million euros) funding for Saab, which has been forced to halt production because it cannot pay suppliers' bills. Victor Muller, Spyker CEO and Saab chairman, said the partnership will allow Saab to enter the Chinese car market with a strong Chinese manufacturer.

Henrik Fisker resigns from Fisker Automotive

Henrik Fisker, founder and executive chairman of struggling plug-in hybrid vehicle maker Fisker Automotive, has resigned. In an email today to Automotive News, Henrik Fisker, referring to himself in the third person, said: "The main reasons for his resignation are several major disagreements that Henrik Fisker has with the Fisker Automotive executive management on the business strategy." Fisker confirmed his resignation in a phone interview and declined to comment further. Tony Posawatz, who became president and CEO of the company in August, said this morning that he had just been made aware of the resignation.

Porsche 911 Targa revealed at 2014 Detroit Motor Show

Porsche has revealed an amazing retro-inspired new 911 Targa at the Detroit Motor Show – an open-top model that boasts a ‘wide bar’ look almost identical to the Targa style that went out of production two decades ago. First introduced back in the 1960s, Porsche’s return to the original Targa style has been combined with modern electrically-opening roof technology… and with models arriving in showrooms from this May, it’ll be an on-road retro reality before you know it.