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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.

It’s the BMW 7-Series ‘Horse Edition’ to celebrate China’s Year of the Horse

The BMW 7-Series Horse Edition (pictured) heading for the 2014 Beijing Motor Show China is a huge car market for premium brand, so with the Beijing Motor Show on the way we’ll no doubt be seeing a raft of China Specials revealed as car makers seek to appeal to China’s still deep-pocketed buyers. Cars like the Ferrari 458 Italia China Special Edition, Audi R8 China Edition, Porsche 911 Turbo S China 10th Anniversary Edition and Aston Martin’s ‘Dragon 88′ special editions of the DBS Volante, Virage Coupe and V8 Vantage S Coupe are just a few of the China Specials Western car makers have bolted together to tempt the Chinese to part with their cash. Now we have another with the BMW 7-Series Horse Edition, which might sound like a special edition Land Rover Discovery but which is in fact a titivated 7-Series to celebrate the Year of the Horse.

Lexus LF-CC promises an appealing Lexus IS: Paris 2012

Lexus has given their LF-CC Concept a public airing at the 2012 Paris Motor Show, a preview of the 2013 Lexus IS. The new Lexus GS has proved that Lexus can build a car with a green halo and offer it with styling that isn’t from the beige school of car design. And now the 2013 Lexus IS looks to be heading the same route.