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Saab says it will restart production after securing short-term loan
Mon, 02 May 2011Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.
Ram to sell two Fiat vans
Fri, 16 Sep 2011The Ram brand will get a commercial van based on the Fiat Ducato large paneled van, supplier sources said at the Frankfurt motor show. Chrysler plans to build 30,000 a year in Mexico, the sources said. Chrysler already builds Ram heavy-duty pickups in Saltillo, Mexico.
Aston Martin to use Mercedes AMG V8 engines (2013)
Thu, 25 Jul 2013It’s a new era for Aston Martin: the Gaydon brand has announced today (25 July 2013) that it’s in the early stages of a deal with Mercedes’ in-house tuners AMG, which will allow it to use Mercedes-honed engine and electronics technology. Has Aston Martin sold its soul to the Germans? Not quite – Daimler AG is set to take only a 5% share stake in Aston Martin, sitting alongside majority shareholders Investment Dar and Investindustrial.